Author Question: In a perfectly competitive industry, the industry demand curve is ____, while in a monopolistic ... (Read 46 times)

charchew · **on:** Jun 30, 2018

In a perfectly competitive industry, the industry demand curve is ____, while in a monopolistic industry, the industry demand curve is:
a. horizontal; downward sloping.
b. downward sloping; horizontal.
c. downward sloping; downward sloping.
d. horizontal; horizontal.

Question 2

A monopoly exists when there is only one producer in an industry, and no close substitutes for the product exist.
a. True
b. False
Indicate whether the statement is true or false