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 82 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?

Green tea is able to stop the scent of garlic or onion from causing bad breath.

Did you know?

There are actually 60 minerals, 16 vitamins, 12 essential amino acids, and three essential fatty acids that your body needs every day.

Did you know?

Children with strabismus (crossed eyes) can be treated. They are not able to outgrow this condition on their own, but with help, it can be more easily corrected at a younger age. It is important for infants to have eye examinations as early as possible in their development and then another at age 2 years.

Did you know?

Less than one of every three adults with high LDL cholesterol has the condition under control. Only 48.1% with the condition are being treated for it.

Did you know?

Today, nearly 8 out of 10 pregnant women living with HIV (about 1.1 million), receive antiretrovirals.

A sigmoid (cooperative) binding curve A sigmoid (cooperative) binding curve
Bacteria growth curve Bacteria growth curve
The Radioactive Decay Curve The Radioactive Decay Curve
Blood Supply to the Lungs Blood Supply to the Lungs
Genetics answer Genetics answer
Evaluate the first derivation of the following functions. Encircle your final answer. Evaluate the first derivation of the following functions. Encircle your final answer.
Video: Acid-base imbalances - compensation of metabolic acidosis and alkalosis

For a complete list of videos, visit our video library