There is a inverse relationship between price and quantity sold by the monopoly firm. True or false ?
Dear Student
The statement is True. The demand for a commodity is inversely related to its price. Therefore, A monopoly seller can sell more only at a lower price.
Hope this information clarifies your doubts. Keep posting :-)
Regards
The statement is True. The demand for a commodity is inversely related to its price. Therefore, A monopoly seller can sell more only at a lower price.
Hope this information clarifies your doubts. Keep posting :-)
Regards