A monopolist has market power because it faces a downward-sloping demand curve.

Name: A monopolist has market power because it faces a downward-sloping demand curve.
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A monopolist is the sole supplier of a certain product or service, which gives it the ability to control the price of that product or service. Unlike a perfectly competitive firm, a monopolist faces a downward-sloping demand curve because it is the only supplier and can determine the price level.

A Monopolist Has Market Power Because It Faces a Downward-Sloping