All of the following are true about a monopolist EXCEPT
A) the demand curve for its product is perfectly elastic.
B) it produces a product with no close substitutes.
C) its demand curve is the same as the market demand for the industry.
D) it is a single seller of a good or service.

Question

Quizplus · Accepted Answer

The demand curve for a monopolist is not perfectly elastic, as a monopolist has the power to set its own price and its demand curve will reflect the relationship between its price and the quantity demanded by consumers.

All of the Following Are True About a Monopolist EXCEPT