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प्रश्न
Why is the demand curve of a monopoly firm steep and downward sloping?
पर्याय
It faces many close substitutes.
It is a price taker.
It must reduce the price to sell more because it is the only seller.
Its product is homogeneous with others.
MCQ
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उत्तर
It must reduce the price to sell more because it is the only seller.
Explanation:
In a monopoly, the firm is the only producer without close substitutes, so to increase sales it must lower price, giving a downward-sloping and less elastic (steeper) demand curve.
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