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22 July, 19:58

What is the relationship between a monopolist's demand curve and the market demand curve?

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  1. 22 July, 20:57
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    For a monopolist, both marginal revenue and demand are downward-sloping curves. Marginal revenue will always be less than demand for a given quantity. This is because a monopolist's demand curve is the same as its average revenue curve, and for a monopolist, both average and marginal revenue will decrease as quantity increases.
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