Share
Explore BrainMass

Elasticity concepts

Just 1 or 2 sentence needed to answer the following question

Explain why the demand curve facing a monopolist is less elastic than one facing a firm that operates in a monopolistically competitive market. ( all other factors held constant)

Solution Preview

In a monopolistic environment there is a single seller and there are no close substitutes available for the product. So, it is not ...

Solution Summary

Solution explains why the demand curve facing a monopolist is less elastic than one facing a firm that operates in a monopolistically competitive market

$2.19