{"id":57795,"date":"2024-04-16T01:08:12","date_gmt":"2024-04-16T01:08:12","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=57795"},"modified":"2024-04-16T01:08:12","modified_gmt":"2024-04-16T01:08:12","slug":"demand-curve-of-monopoly","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/demand-curve-of-monopoly\/","title":{"rendered":"Demand curve of monopoly:"},"content":{"rendered":"<p>[amp_mcq option1=&#8221;Parallel to the X-axis&#8221; option2=&#8221;Parallel to the Y-axis&#8221; option3=&#8221;Leans down from left to right&#8221; option4=&#8221;Climbs up from left to right&#8221; correct=&#8221;option3&#8243;]<!--more--><\/p>\n<p>The correct answer is: C. Leans down from left to right.<\/p>\n<p>A monopoly is a market structure in which there is only one seller of a good or service. The demand curve for a monopoly is downward-sloping, which means that the monopolist can charge a higher price and still sell some units of the good or service. This is because the monopolist is the only seller in the market, and buyers have no other choice but to buy from the monopolist.<\/p>\n<p>The demand curve for a monopoly is different from the demand curve for a perfectly competitive firm. A perfectly competitive firm faces a perfectly elastic demand curve, which means that the firm can sell as much as it wants at the market price. This is because there are many firms in a perfectly competitive market, and each firm is a small part of the market. As a result, buyers have many choices, and they can easily switch to another firm if the price is too high.<\/p>\n<p>The demand curve for a monopoly is also different from the demand curve for a monopolistically competitive firm. A monopolistically competitive firm faces a downward-sloping demand curve, but the demand curve is more elastic than the demand curve for a monopoly. This is because there are many firms in a monopolistically competitive market, but each firm is not a small part of the market. As a result, buyers have some choices, but they cannot easily switch to another firm if the price is too high.<\/p>\n<p>In conclusion, the demand curve for a monopoly is downward-sloping, which means that the monopolist can charge a higher price and still sell some units of the good or service. This is because the monopolist is the only seller in the market, and buyers have no other choice but to buy from the monopolist.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;Parallel to the X-axis&#8221; option2=&#8221;Parallel to the Y-axis&#8221; option3=&#8221;Leans down from left to right&#8221; option4=&#8221;Climbs up from left to right&#8221; correct=&#8221;option3&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-57795","post","type-post","status-publish","format-standard","hentry","category-economics","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Demand curve of monopoly:<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/demand-curve-of-monopoly\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Demand curve of monopoly:\" \/>\n<meta property=\"og:description\" content=\"[amp_mcq option1=&#8221;Parallel to the X-axis&#8221; option2=&#8221;Parallel to the Y-axis&#8221; option3=&#8221;Leans down from left to right&#8221; option4=&#8221;Climbs up from left to right&#8221; correct=&#8221;option3&#8243;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/exam.pscnotes.com\/mcq\/demand-curve-of-monopoly\/\" \/>\n<meta property=\"og:site_name\" content=\"MCQ and Quiz for Exams\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-16T01:08:12+00:00\" \/>\n<meta name=\"author\" content=\"rawan239\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"rawan239\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Demand curve of monopoly:","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/exam.pscnotes.com\/mcq\/demand-curve-of-monopoly\/","og_locale":"en_US","og_type":"article","og_title":"Demand curve of monopoly:","og_description":"[amp_mcq option1=&#8221;Parallel to the X-axis&#8221; option2=&#8221;Parallel to the Y-axis&#8221; option3=&#8221;Leans down from left to right&#8221; option4=&#8221;Climbs up from left to right&#8221; correct=&#8221;option3&#8243;]","og_url":"https:\/\/exam.pscnotes.com\/mcq\/demand-curve-of-monopoly\/","og_site_name":"MCQ and Quiz for Exams","article_published_time":"2024-04-16T01:08:12+00:00","author":"rawan239","twitter_card":"summary_large_image","twitter_misc":{"Written by":"rawan239","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/exam.pscnotes.com\/mcq\/demand-curve-of-monopoly\/","url":"https:\/\/exam.pscnotes.com\/mcq\/demand-curve-of-monopoly\/","name":"Demand curve of monopoly:","isPartOf":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/#website"},"datePublished":"2024-04-16T01:08:12+00:00","dateModified":"2024-04-16T01:08:12+00:00","author":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/5807dafeb27d2ec82344d6cbd6c3d209"},"breadcrumb":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/demand-curve-of-monopoly\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/exam.pscnotes.com\/mcq\/demand-curve-of-monopoly\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/exam.pscnotes.com\/mcq\/demand-curve-of-monopoly\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/exam.pscnotes.com\/mcq\/"},{"@type":"ListItem","position":2,"name":"mcq","item":"https:\/\/exam.pscnotes.com\/mcq\/category\/mcq\/"},{"@type":"ListItem","position":3,"name":"Economics","item":"https:\/\/exam.pscnotes.com\/mcq\/category\/mcq\/economics\/"},{"@type":"ListItem","position":4,"name":"Demand curve of monopoly:"}]},{"@type":"WebSite","@id":"https:\/\/exam.pscnotes.com\/mcq\/#website","url":"https:\/\/exam.pscnotes.com\/mcq\/","name":"MCQ and Quiz for Exams","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/exam.pscnotes.com\/mcq\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/5807dafeb27d2ec82344d6cbd6c3d209","name":"rawan239","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/761a7274f9cce048fa5b921221e7934820d74514df93ef195a9d22af0c1c9001?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/761a7274f9cce048fa5b921221e7934820d74514df93ef195a9d22af0c1c9001?s=96&d=mm&r=g","caption":"rawan239"},"sameAs":["https:\/\/exam.pscnotes.com"],"url":"https:\/\/exam.pscnotes.com\/mcq\/author\/rawan239\/"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/posts\/57795","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/comments?post=57795"}],"version-history":[{"count":0,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/posts\/57795\/revisions"}],"wp:attachment":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/media?parent=57795"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/categories?post=57795"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/tags?post=57795"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}