In a market characterised by monopoly, the market demand curve is:

Name: In a market characterised by monopoly, the market demand curve is:
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In a monopoly, there is only one seller and no close substitutes, so the monopolist has the power to influence the price of the product. The monopolist will increase the price and reduce output to maximize profit. As a result, the demand curve faced by the monopolist is downward-sloping because as the price increases, the quantity demanded decreases.

In a Market Characterised by Monopoly, the Market Demand Curve