In monopoly markets, market demand is:

Name: In monopoly markets, market demand is:
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In monopoly markets, there is only one firm and no close substitutes, which means that the demand for the product is likely to be relatively elastic. This is because consumers have fewer options and may be more responsive to changes in price. However, the degree of elasticity may vary depending on factors such as the importance of the product to consumers and the availability of substitutes.

In Monopoly Markets, Market Demand Is