Author Question: For a monopolist, there is no supply curve because a. the supply curve is the same as the marginal ... (Read 33 times)

student77 · **on:** Jun 30, 2018

For a monopolist, there is no supply curve because
a. the supply curve is the same as the marginal cost curve
b. the monopolist does not maximize profit
c. the quantity supplied is independent of marginal cost
d. the quantity supplied is independent of demand
e. there is no unique relationship between price and quantity supplied

Question 2

A perfectly competitive firm will produce at an economic loss (negative profit) in the short run rather than discontinue production if there is a rate of output at which price
a. exceeds average variable cost
b. exceeds average fixed cost
c. exceeds average total cost
d. exceeds marginal revenue
e. equals marginal cost