The demand curve for a monopoly firm is _______.

upward sloping

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downward sloping

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horizontal

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vertical

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Solution

The correct option is B
downward sloping

The demand curve for a monopoly firm is downward sloping as any increase in price will cause the quantity demanded to decline. However, it is not horizontal as in the case of perfect competition because the goods have no perfect substitutes and the monopoly firm is the sole producer of the good.

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