A monopolist has no supply curve because
a. as demand changes, each output level can be consistent with more than one profit-maximizing price
b. monopolists tend to restrict output
c. monopolists have no marginal cost curve
d. monopolists can charge any price they want
e. as demand changes, the firm's profit-maximizing choice of output may change
A
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a. Differences in natural endowments such as climate b. Differences in skills of labor force c. Differences in endowments of natural resources d. All of the above are correct.
A ________ is a person who wants to enjoy the benefits of a public good without contributing his or her marginal benefit to the cost of financing the amount made.
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