Excalibur Internet, a typical utility-based monopoly, provides internet service in a local community. Table 1 shows the demand that Excalibur Internet experiences at each price. Graph 1 depicts Excalibur Internet's demand curve. Why does such a monopoly face a downward sloping demand curve? Table 1 Demand Schedule Price Amount Demanded $160 0 $130 125 $100 250 $75 475 $40 625 $0 800 Graph 1: The graph depicts the monthly demand for internet service subscriptions based on the values in the table directly above this graph. The X-axis features the amount of internet service subscriptions demanded in intervals of 25. The Y-axis features the p Question 4 options: a) More people are willing to pay the higher price offered. If they are offering the internet service for $160, then many people will want to take advantage of that. b) More people are willing to pay for the internet service as the price increases. c) Fewer people are willing to pay a lower price, and Excalibur Internet is willing to provide more service at the lower price. d) Excalibur Internet is the only producer of internet in this market, so its demand curve is the market demand curve for the entire industry