The demand curve for a monopolist's product is the same as the market demand curve for the product.

Question

Quizplus · Accepted Answer

A monopolist is the sole producer of a product in the market, hence the demand curve for the monopolist's product is the same as the market demand curve for the product. The monopolist has control over the quantity supplied at any given price, and therefore can manipulate the market price by adjusting the quantity supplied. However, the monopolist cannot affect the price elasticity of demand, which determines the slope of the demand curve.

The Demand Curve for a Monopolist's Product Is the Same