Monopolies are characterized by a firm demand curve that is more elastic than the market demand curve.

Name: Monopolies are characterized by a firm demand curve that is more elastic than the market demand curve.
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Monopolies have the ability to control the market price and are therefore not constrained by a more elastic demand curve. In fact, monopolies often have a less elastic demand curve than the market due to the lack of close substitutes for their product or service.

Monopolies Are Characterized by a Firm Demand Curve That Is