Monopolists
A) maximize revenue, not profits.
B) have no short-run fixed costs.
C) face downward sloping demand curves.
D) are price takers.

Name: Monopolists A) maximize revenue, not profits. B) have no short-run fixed costs. C) face downward sloping demand curves. D) are price takers.
Brand: Quizplus
Rating: 4.8 (39 reviews)

Question

Quizplus · Accepted Answer

Monopolists face downward sloping demand curves because they are the sole providers of a good or service, allowing them to set prices above marginal cost.