For a nondiscriminating monopolist, which of the following statements is true? A)Unlike a firm in perfect competition, a monopolist produces where MR MC. B)The monopolist's marginal revenue curve is the same as its demand curve. C)The monopolist will always produce in the inelastic range of its demand curve. D)The monopolist does not have a supply curve. E)The monopolist produces where MR

Question

For a nondiscriminating monopolist, which of the following statements is true?
A)Unlike a firm in perfect competition, a monopolist produces where MR > MC.
B)The monopolist's marginal revenue curve is the same as its demand curve.
C)The monopolist will always produce in the inelastic range of its demand curve.
D)The monopolist does not have a supply curve.
E)The monopolist produces where MR < MC.

Quizplus · Accepted Answer

A monopolist does not have a supply curve because its output decision depends on the demand curve and marginal cost, not just on price.

For a Nondiscriminating Monopolist, Which of the Following Statements Is