What kind of demand curve does the monopolist face?
Group of answer choices
The monopolist faces an upward sloping demand curve, which means if it wants to sell a low level of output, it will charge a low price, and if it wants to sell a high level of output it will charge a high price.
The monopolist faces a vertical demand curve where the quantity demanded remains the same, regardless of what price is set.
The monopolist faces a downward sloping demand curve, which means if it wants to sell a low level of output, it can charge a high price, and if it wants to sell a large level of output it will have to charge a low price.
The monopolist faces a horizontal demand curve just like the perfectly competitive firm where any change in price will lead to zero units demanded.