Word Bank above closed marginal negatively equals less average open monopolist technologies 1. Because a.(n) is the only rm in its market, the demand curve faced by the rm is the same as the market or industry demand curve for the product. 2. The terms demand curve and average total revenue curve are interchangeable. Since the monopolist's demand curve is sloped, as the quantity of output increases the price decreases. 3. With a linear demand curve, the point where the revenue curve intersects the horizontal axis is halvay between the origin and the horizontal intercept of the demand curve. 4. Typically, the marginal revenue curve is below or to the left of the total revenue curve. 5. A monopolist maximizes prots by producing the quantity of output for which marginal cost marginal revenue. 6. If marginal revenue is marginal cost, adding one more unit of output adds more to total revenue than to total cost and adds to total prot. '3'. Compared to an otherwise competitive rm, the producer surplus is larger under monopoly. This is because the monopoly is likely to charge more and produce 8. New substitute products and new pose threats to monopoly markets making their advantage temporary. 9. A{n} monopoly is one that is protected by a legal barrier, such as a government permit or a patent. 10. A{n} monopoly may discourage other rms 'om entering the market by employing