Once a monopolist identifies the profit-maximizing rate of output, the demand curve shows how much consumers are willing to pay for that specific quantity of output.
What is monopolist?
The term monopolist refers to the only one seller in the market. The monopoly enters the market. The demand has increased, but the barrier of the monopoly is fixed at the price.
The consumer's willingness to pay the price of the goods is exploited by monopolists. Due to a single seller, there is a higher rate of output that maximizes profits, which causes the demand curve to rise.
As a result, the monopolist is the demand curve is the shows how much consumers are willing to pay for that specific quantity of output.
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