A monopolist firm has full control over the price and demand for this product. Do you agree with the given statement?

A monopolist firm has full control over the price and demand for this

1.	A monopolist firm has full control over the price and demand for this product. Do you agree with the given statement?
Answer» Solution :No, I do not agree with the given statement. A monopolist firm has full CONTROL over the PRICE, but demand of the product is not in his control. The monopolist firm faces a downward sloping demand curve, which INDICATES that demand varies INVERSELY with price.