Discussion
In which of the following market structure is the demand curve of the market represented by the demand curve of the firm ?
Answer: C
The structure is monopoly.
A monopolist is the only seller of its product, so the firm is the industry, and the downward-sloping market demand curve is the firm's own demand curve.
Under perfect competition the firm faces a horizontal demand curve at the market price, quite different from the downward-sloping market curve. Under monopolistic competition and oligopoly there are many or several firms, each facing only a part of market demand.
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