Home
Class 11
ECONOMICS
A monopolist firm has full control over ...

A monopolist firm has full control over the price and demand for this product. Do you agree with the given statement?

Text Solution

Verified by Experts

No, I do not agree with the given statement. A monopolist firm has full control over the price, but demand of the product is not in his control. The monopolist firm faces a downward sloping demand curve, which indicates that demand varies inversely with price.
Promotional Banner

Topper's Solved these Questions

  • DEMAND AND ITS DETERMINANTS

    SANDEEP GARG|Exercise Model test paper 1|12 Videos
  • DEMAND AND ITS DETERMINANTS

    SANDEEP GARG|Exercise Model test paper 2|12 Videos
  • DEMAND

    SANDEEP GARG|Exercise Unsolved particles|4 Videos
  • ELASTICITY OF DEMAND

    SANDEEP GARG|Exercise Unsolved practicals|79 Videos