Question 21 Which of the following statements is NOT correct about monopoly? A monopolist generally faces a downward-sloping demand curve Monopolists always make positive profits in the long run A monopoly may make negative profits in the short run There is no close substitute for a monopoly’s product

Question 21
Which of the following statements is NOT correct about monopoly?
A monopolist generally faces a downward-sloping demand curve
Monopolists always make positive profits in the long run
A monopoly may make negative profits in the short run
There is no close substitute for a monopoly’s product

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