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 31 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?

Allergies play a major part in the health of children. The most prevalent childhood allergies are milk, egg, soy, wheat, peanuts, tree nuts, and seafood.

Did you know?

People who have myopia, or nearsightedness, are not able to see objects at a distance but only up close. It occurs when the cornea is either curved too steeply, the eye is too long, or both. This condition is progressive and worsens with time. More than 100 million people in the United States are nearsighted, but only 20% of those are born with the condition. Diet, eye exercise, drug therapy, and corrective lenses can all help manage nearsightedness.

Did you know?

Once thought to have neurofibromatosis, Joseph Merrick (also known as "the elephant man") is now, in retrospect, thought by clinical experts to have had Proteus syndrome. This endocrine disease causes continued and abnormal growth of the bones, muscles, skin, and so on and can become completely debilitating with severe deformities occurring anywhere on the body.

Did you know?

The cure for trichomoniasis is easy as long as the patient does not drink alcoholic beverages for 24 hours. Just a single dose of medication is needed to rid the body of the disease. However, without proper precautions, an individual may contract the disease repeatedly. In fact, most people develop trichomoniasis again within three months of their last treatment.

Did you know?

Cucumber slices relieve headaches by tightening blood vessels, reducing blood flow to the area, and relieving pressure.

The adolescent growth spurt in humans is seen as a “bump” in the height curve and a “spike” in the h The adolescent growth spurt in humans is seen as a “bump” in the height curve and a “spike” in the h
Historian James Merrell notes several errors in Benjamin West’s famous 1771 painting, William Penn’s Historian James Merrell notes several errors in Benjamin West’s famous 1771 painting, William Penn’s
Cultures Ideal Body Types Cultures Ideal Body Types
The adsorption spectrum of rhodopsin compared with the human scotopic spectral sensitivity curve. The adsorption spectrum of rhodopsin compared with the human scotopic spectral sensitivity curve.
IQ scores form what mathematicians call a normal distribution "bell curve" IQ scores form what mathematicians call a normal distribution "bell curve"
Just a math answer Just a math answer
Video: Protein Structure - Primary, Secondary, Tertiary and Quaternary

For a complete list of videos, visit our video library