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A monopolistic firm faces a downward-sloping demand curve because

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A monopolistic firm faces a downward-sloping demand curve because

there are a large number of firms in the industry, all selling the same product.

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the demand for its product is always inelastic.

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the market price is affected by the amount sold by a monopolistic firm.

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marginal revenue is negative throughout the feasible range of output.

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the monopolistic firm can exploit economies of scale.

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