Unlike a perfectly competitive firm, a monopoly faces a perfectly elastic demand curve.

Name: Unlike a perfectly competitive firm, a monopoly faces a perfectly elastic demand curve.
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Question

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A monopoly faces a downward sloping demand curve and has some control over the price it charges. A perfectly competitive firm, however, faces a perfectly elastic demand curve and has no control over the price as it must accept the market price.

Unlike a Perfectly Competitive Firm, a Monopoly Faces a Perfectly