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Maslowich
3 years ago
7

The monopoly demand curve is _____________, while the perfectly competitive firm’s demand curve is _______________. This is beca

use a monopoly is the only producer in an industry, so the monopoly firm’s _______ curve is the same as the market demand curve, while the perfectly competitive firm produces in a market with ________ competitors.
Business
1 answer:
Amiraneli [1.4K]3 years ago
8 0

Answer:

Downward sloping; horizontal line; demand; large number of competitors

Explanation:

A monopoly is a market structure where there is only a single firm in the market. This firm is a price maker. It can charge whatever price it wants, but the consumers will demand more at a lower price.  

That is why the demand curve of a monopoly is downward sloping and the same as the market demand curve.  

A perfectly competitive market refers to the market structure where there is a large number of buyers and sellers. These firms are price takers. They face a horizontal line demand curve. This is because of a large number of competitors producing homogenous products. So if a firm raises its prices the consumers will move to the firm at a lower price.  

The market demand curve though is downward sloping.

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What is bank run ? in your own words.​
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3 years ago
To save for​ retirement, a student invests ​$60 each month in an ordinary annuity with 6 % interest compounded monthly. Determin
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Answer:

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