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a monopoly a. is a price taker b. maximizes profit by setting marginal revenue equal to...

a monopoly

a. is a price taker
b. maximizes profit by setting marginal revenue equal to msrginal cost
c. none of the answers are correct
d. faces a downward sloping demand curve
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Answer #1

Answer :- Options A,B and D are correct regarding monopoly.

A monopoly market is characterized by a single firm taking control over entire market . It alone acts as a price taker and tries to maximise profits by setting marginal revenue equal to marginal cost .

In a monopoly , demand curve is downward sloping owing to an increasing output production . In a monopoly owner sells a particular product in huge amounts by decreasing its cost which is why we have downward sloping demand curve ..

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