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| Which of the following is true? |
Demand curve under monopoly is downward sloping as lower quantity can be sold at lower prices. Demand curve under monopoly is upward sloping as higher quantity can be sold at lower prices. Demand curve under monopoly is downward sloping as higher quantity can be sold at lower prices. Demand curve under monopoly is upward sloping as higher quantity can be sold at higher prices. |
| Demand curve under monopoly is downward sloping as higher quantity can be sold at lower prices. |
| Demand curve of a monopolist firm is downward sloping as higher quantity can be sold at a lower price and vice versa. |
