« previous next »

Author Question: Explain why a monopolist has no supply curve. What will be an ideal ... (Read 95 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?

The Centers for Disease Control and Prevention (CDC) was originally known as the Communicable Disease Center, which was formed to fight malaria. It was originally headquartered in Atlanta, Georgia, since the Southern states faced the worst threat from malaria.

Did you know?

Individuals are never “cured” of addictions. Instead, they learn how to manage their disease to lead healthy, balanced lives.

Did you know?

Bacteria have been found alive in a lake buried one half mile under ice in Antarctica.

Did you know?

Bisphosphonates were first developed in the nineteenth century. They were first investigated for use in disorders of bone metabolism in the 1960s. They are now used clinically for the treatment of osteoporosis, Paget's disease, bone metastasis, multiple myeloma, and other conditions that feature bone fragility.

Did you know?

Symptoms of kidney problems include a loss of appetite, back pain (which may be sudden and intense), chills, abdominal pain, fluid retention, nausea, the urge to urinate, vomiting, and fever.

Drug tolerance: A shift in the dose-response curve to the right as a result of exposure to the drug. Drug tolerance: A shift in the dose-response curve to the right as a result of exposure to the drug.
Unregulated populations "J-shaped curve" Unregulated populations "J-shaped curve"
Blood Supply to the Lungs Blood Supply to the Lungs
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
Explain the myogenic autoregulation of the glomerular filtration rate Explain the myogenic autoregulation of the glomerular filtration rate
Suppose a country imports televisions. The country's supply and demand curves are shown in ... Suppose a country imports televisions. The country's supply and demand curves are shown in ...
Video: Cardiac Cycle (Part 1 of 4)

For a complete list of videos, visit our video library