The demand curve faced by a pure monopolist

Question

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A pure monopolist faces a downward sloping demand curve, which means that as it increases the price of its product, the quantity demanded will decrease. The elasticity of demand for a monopolist's product is generally less elastic than that faced by a single purely competitive firm because the monopolist has no close substitutes for its product. In other words, consumers have fewer options to turn to if they want to avoid the higher prices set by the monopolist, so they are less sensitive to changes in price.

The Demand Curve Faced by a Pure Monopolist