The demand curve for a monopoly is horizontal because the demand is perfectly elastic. upward sloping. vertical because the demand is perfectly inelastic. downward sloping. undefined because it is the only supplier in the market.

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Business

Elsie Valenzuela

6 August, 03:10

The demand curve for a monopoly is horizontal because the demand is perfectly elastic. upward sloping. vertical because the demand is perfectly inelastic. downward sloping. undefined because it is the only supplier in the market.

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Rylan Avery · Answer 1

Downward sloping

Explanation:

According to the law of demand, this law states that there is a inverse relationship between the price of a commodity and the quantity demanded for a commodity. This indicates that as the price of the commodity increases then as a result the quantity demanded for that commodity decreases and as the price of the commodity decreases then as a result the quantity demanded for that commodity increases.

Monopoly refers to the market conditions in which there is only a single firm operating in a whole market.

Hence, due to this inverse relationship between the price and the quantity demanded, the demand curve for a monopoly firm is downward sloping.