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If a profit-maximizing monopolist faces a downward-sloping market demand curve, what do we know? ( Its average revenue is less than the price of the product. O Its average revenue equals marginal revenue. O Its marginal revenue equals total revenue. Its marginal revenue is less than the price of the product.

Answer :

We know that when a profit-maximizing monopolist faces a downhill market demand curve, its marginal revenue is lower than the product's price.

Explain what a market is.

A market is described as the aggregate of all sellers and buyers in the region or area under considering. The area could be the entire planet, or it could be countries, regions, countries, or cities. The value, cost, and cost of items traded in a market are determined by the supply and demand forces.

What, for example, is a market?

Shops, high streets, and websites are some examples. The term also refers to the entire group of people who purchase a product or service. Market-based businesses are usually in contest with other businesses.

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