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Is the firms demand curve always elastic if the firm possesses monopoly power?
No, a firm's demand curve is not always elastic even if it possesses monopoly power. Monopolies can face inelastic demand for their products, particularly if there are few or no substitutes available, allowing them to set higher prices without losing many customers. The degree of elasticity depends on factors such as consumer preferences, availability of alternatives, and the nature of the product. Therefore, while monopolies may have some control over pricing, the elasticity of their demand curve varies based on market conditions.
Will a monopolist charge a lower price where demand is price elastic and a higher price where demand is price inelastic?
Yes. A monopolist would tend to charge a price closer to fair market value when the demand for a good is elastic. If not demand would be affected. With a monopoly controlled inelastic good the consumer has no recourse and there for would be and the mercy of the supplier.
Demand and its types?
Perfectly inelastic demand, perfectly elastic demand, elastic demand, inelastic demand etc.
Is fruit elastic or inelastic demand?
elastic
Is it true that the demand curve is elastic in this region?
Yes, the demand curve is elastic in this region.
Is the firms demand curve always elastic if the firm possesses monopoly power?
No, a firm's demand curve is not always elastic even if it possesses monopoly power. Monopolies can face inelastic demand for their products, particularly if there are few or no substitutes available, allowing them to set higher prices without losing many customers. The degree of elasticity depends on factors such as consumer preferences, availability of alternatives, and the nature of the product. Therefore, while monopolies may have some control over pricing, the elasticity of their demand curve varies based on market conditions.
Does a monopoly produce at the inelastic or elastic part of the demand curve?
A monopoly produces at the elastic portion of the demand curve. If producing at the inelastic portion of the deman curve, the monopoly could lower the quantity produced and raise the price to achieve more total revenue.
How might monopoly affect prices?
a monopoly if it has a high demand can push prices up simply people will pay for something that is in demand where as a monopoly with low demand will carry on selling the item for less but the way a monopoly works means that the person who is operating the monopoly will shift the supply lower to always push the price up.
Will a monopolist charge a lower price where demand is price elastic and a higher price where demand is price inelastic?
Yes. A monopolist would tend to charge a price closer to fair market value when the demand for a good is elastic. If not demand would be affected. With a monopoly controlled inelastic good the consumer has no recourse and there for would be and the mercy of the supplier.
Demand and its types?
Perfectly inelastic demand, perfectly elastic demand, elastic demand, inelastic demand etc.
When demand is elastic?
The demand is elastic when the price is low. So people will buy more good so that it's demand will become more elastic. Moreover ,the demand is elastic when there are some new inventions.
When a firm's marginal revenue is zero what can be said about the elasticity of demand for the output of the firm A. Demand is inelastic. B. Demand is elastic. C. Demand is unit elastic.?
Demand is unit elastic.
Is fruit elastic or inelastic demand?
elastic
Difference between elastic and inelastic demand?
difference between elastic and inelastic demand
Is it true that the demand curve is elastic in this region?
Yes, the demand curve is elastic in this region.
Different degrees of elasticity of demand?
Perfectly elastic demand. Relative elastic demand. Unit elasticity of demand. Relative inelastic demand. Perfectly inelastic demand.
What are the types of price elasticity of demand?
there are five types.1).perfect elastic demand,2)perfect inelastic demand,3).relatively elastic demand,4).relatively inelastic demand4).unity elastic demand
