Monopoly firms have a downward sloping demand curves

10. Monopoly firms have
a. downward-sloping demand curves and they can sell as much output as they desire at the market
price.
b. downward-sloping demand curves and they can sell only a limited quantity of output at each price.
c. horizontal demand curves and they can sell as much output as they desire at the market price.
d. horizontal demand curves and they can sell only a limited quantity of output at each price.

932  Chapter 14/Firms in Competitive Markets
MONOPOLISTIC
SHORT ANSWER
1. List five goods that are likely sold in a monopolistically competitive market.
2. Why does a typical monopolistically competitive firm face a downward-sloping demand curve?
MULTIPLE CHOICE
1. Which of the following is a characteristic of monopolistic competition?
This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. This may not be resold, copied,
or distributed without the prior consent of the publisher.
2. Which of the following statements is not correct?
3. The general term for market structures that fall somewhere in-between monopoly and perfect competition is