A downward-sloping demand curve:

Name: A downward-sloping demand curve:
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All of the statements are true. In monopolistically competitive and monopoly markets, firms face a downward-sloping demand curve, which means as they lower the price, the quantity demanded increases. This characteristic causes the price to be above marginal revenue because each additional unit sold at a lower price reduces the revenue gained from previously sold units.

A Downward-Sloping Demand Curve