This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Does a monopolist have a supply curve? Explain your answer. What will be an ideal ... (Read 26 times)

waynest

  • Hero Member
  • *****
  • Posts: 553
on: Jun 29, 2018
Does a monopolist have a supply curve? Explain your answer.
 
  What will be an ideal response?

Question 2

Refer to the scenario above. If Alice values fairness, ________.
 
  A) she will not accept any offer made by Robert
  B) Robert should make the lowest possible offer to Alice
  C) she will accept the offer when Robert offers 250
  D) Robert should not play the game


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

BUTTHOL369

  • Sr. Member
  • ****
  • Posts: 341
Reply #1 on: Jun 29, 2018
Answer to Question 1

A monopolist does not have a supply curve. Since monopolists are price makers, they do not vary their production based on market price. Instead, they set the market price. Like sellers in competitive markets, monopolists will produce at the point where their marginal revenue is equal to their marginal cost. But a monopolist's marginal revenue is dependent upon the negatively-sloped demand curve that it faces. Because a monopolist's production decision is based on demand, it cannot be depicted as an independent supply curve.

Answer to Question 2

C


waynest

  • Hero Member
  • *****
  • Posts: 553
Reply #2 on: Jun 29, 2018
Correct answers!


BUTTHOL369

  • Sr. Member
  • ****
  • Posts: 341
Reply #3 on: Jun 29, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

Barbituric acid, the base material of barbiturates, was first synthesized in 1863 by Adolph von Bayer. His company later went on to synthesize aspirin for the first time, and Bayer aspirin is still a popular brand today.

Did you know?

In 1844, Charles Goodyear obtained the first patent for a rubber condom.

Did you know?

According to the American College of Allergy, Asthma & Immunology, more than 50 million Americans have some kind of food allergy. Food allergies affect between 4 and 6% of children, and 4% of adults, according to the CDC. The most common food allergies include shellfish, peanuts, walnuts, fish, eggs, milk, and soy.

Did you know?

Giardia is one of the most common intestinal parasites worldwide, and infects up to 20% of the world population, mostly in poorer countries with inadequate sanitation. Infections are most common in children, though chronic Giardia is more common in adults.

Did you know?

Of the estimated 2 million heroin users in the United States, 600,000–800,000 are considered hardcore addicts. Heroin addiction is considered to be one of the hardest addictions to recover from.

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
A typical distillation curve. Heavier molecules evaporate at higher temperatures and contain more ... A typical distillation curve. Heavier molecules evaporate at higher temperatures and contain more ...
Oxygen-binding curve for myoglobin Oxygen-binding curve for myoglobin
J or U dose-response curve J or U dose-response curve
Explain the assumptions that must be satisfied in order to validly use the one-way ANOVA ... Explain the assumptions that must be satisfied in order to validly use the one-way ANOVA ...
PLEASE ANSWER THE PICTURE PLEASE ANSWER THE PICTURE
Video: Role of ATP in muscle movement

For a complete list of videos, visit our video library