1. The demand curve faced by a monopolist:
a. may be either more or less elastic than that faced by a single perfect competitive firm.
b. is less elastic than that faced by a single perfectly competitive firm.
c. has the same elasticity as that faced by a single perfectly competitive firm.
d. is more elastic than that faced by a single perfectly competitive firm.
2. The marginal revenue curve for a monopolist:
a. is a straight, upward sloping curve.
b. rises at first, reaches a maximum, and then declines.
c. is positive at low levels of output, then becomes negative at high output levels.
d. is a straight line, parallel to the horizontal axis.