The more inelastic the demand curve is for the monopolist's product, the higher the price is that can be charged for the good.

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This is because when demand is inelastic, consumers are less responsive to changes in price, and therefore, the monopolist can charge a higher price without losing too many customers. On the other hand, if demand is highly elastic, consumers have many substitutes available to them and are more likely to switch to those substitutes if the monopolist raises their price, forcing the monopolist to lower their price to stay competitive.

The More Inelastic the Demand Curve Is for the Monopolist's