The supply curve for a monopoly

Name: The supply curve for a monopoly
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Question

Quizplus · Accepted Answer

A monopoly is a single producer in the market and has the ability to control the price of the product. Hence, the monopoly faces a downward sloping demand curve, which means that there is no unique supply curve for the monopoly. The quantity supplied by the monopoly will depend on the price it sets, which in turn will depend on the demand. Therefore, the answer is (E) the supply curve for a monopoly does not exist.

The Supply Curve for a Monopoly