A monopoly firm
A)has a short-run supply curve that slopes upward.
B)is a price taker.
C)does not have a supply curve.
D)is at the mercy of the market-determined price.

Question

Quizplus · Accepted Answer

A monopoly firm does not have a supply curve because it can choose any combination of price and quantity that it wants to produce and sell. It faces a downward-sloping demand curve which determines the price it can charge for its output. As a result, the monopoly firm has no fixed supply curve like a competitive firm.

A Monopoly Firm