Answer to Question #114995 in Microeconomics for Siya

Question

A monopolist does not have a typical supply curve because
1) numerous demand curves could have identical marginal revenue at a given point on a monopolists marginal cost
2) a monopolist is not a price taker
3) there is no unique correspondence between price and revenue when the market demand curve shifts
4) all of the above

Answer 1

A monopolist does not have a typical supply curve because there is no unique correspondence between price and revenue when the market demand curve shifts.