Question

One of the interesting aspects of monopoly is that

the monopolist's demand curve is the marginal revenue curve

the monopolist's demand curve is the supply curve

the monopolist's demand curve is the industry demand curve\

the monopololist's demand curve is the profit function

Answer 1

Answer) One of the interesting aspects of monopoly is that the monopolist's demand curve is the industry demand curve. Under monopoly there is no difference between the industry and the firm and thus the demand curve facing the monopolist is the same as industry.

The marginal revenue curvefor a monopolist always lies beneath the market demand curve. So option A is incorrect. Monopoly doesn't have supply curve. So option B is incorrect.

Hence option C is the correct answer.

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