Which of the following is true?1Demand curve under monopoly is downward sloping as lower quantity can be sold at lower prices.2Demand curve under monopoly is upward sloping as higher quantity can be sold at lower prices.3Demand curve under monopoly is downward sloping as higher quantity can be sold at lower prices.4Demand curve under monopoly is upward sloping as higher quantity can be sold at higher prices.Answer & explanation+Correct answer: option 3Demand curve of a monopolist firm is downward sloping as higher quantity can be sold at a lower price and vice versa.
