« previous next »

Author Question: Explain why a monopolist has no supply curve. What will be an ideal ... (Read 144 times)

Jipu 123

  • Hero Member
  • *****
  • Posts: 569
on: Jul 1, 2018
Explain why a monopolist has no supply curve.
 
  What will be an ideal response?

Question 2

All else equal, a smaller elasticity of the supply curve to the other firms leads to a ________ individual firm's residual elasticity of demand.
 
  A) less elastic
  B) unit elastic
  C) more elastic
  D) zero
Microeconomics ¦ Perloff ¦ 8th Edition
Buy Test-Bank


meganmoser117

  • Sr. Member
  • ****
  • Posts: 303
Reply #1 on: Jul 1, 2018
Answer to Question 1

By definition, a supply curve shows the amount a firm produces in response to a given price. The monopoly sets price, and, therefore, does not respond to a given price. Alternatively, the monopoly always chooses a price, quantity combination along the demand curve.

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Medication errors are more common among seriously ill patients than with those with minor conditions.

Did you know?

Pubic lice (crabs) are usually spread through sexual contact. You cannot catch them by using a public toilet.

Did you know?

Blood in the urine can be a sign of a kidney stone, glomerulonephritis, or other kidney problems.

Did you know?

Egg cells are about the size of a grain of sand. They are formed inside of a female's ovaries before she is even born.

Did you know?

Despite claims by manufacturers, the supplement known as Ginkgo biloba was shown in a study of more than 3,000 participants to be ineffective in reducing development of dementia and Alzheimer’s disease in older people.

A theoretical photosynthetic response curve. A theoretical photosynthetic response curve.
Defibrillator. Defibrillators are devices that supply a voltage charge to the heart in the hope of r Defibrillator. Defibrillators are devices that supply a voltage charge to the heart in the hope of r
The S-curve in the human vertebral column--a result of the evolution of bipedality--makes humans hig The S-curve in the human vertebral column--a result of the evolution of bipedality--makes humans hig
What are examples of ideal forms? What are examples of ideal forms?
Social scientists have not done well at devising theories to explain lovely romantic moments Social scientists have not done well at devising theories to explain lovely romantic moments
The Oxyhemoglobin Dissociation Curve The Oxyhemoglobin Dissociation Curve
Video: How to make cDNA Animation

For a complete list of videos, visit our video library