FIGURE 10- 4 Suppose a Monopolist Faces the Demand Curve

question 61

Multiple Choice

FIGURE 10- 4 Suppose a monopolist faces the demand curve and cost curves shown below.

-Monopolistic firms do not have supply curves because

• A)monopolists face a given market price.
• B)their marginal costs cannot be calculated.
• C)monopolists get to choose their price- quantity combination along the demand curve.
• D)their output is a fixed quantity.
• E)they are not constrained by the marginal costs of production.

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Political Economy

The study of production, trade, and their relationship with law, custom, and government, as well as with the distribution of national income and wealth.

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