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Answer on Microeconomics Question for Camilla

Question #5473
Is there a supply curve in a market where there is monopolistic power?
Expert's answer
Answer:





There is no supply curve in a market with supply power.




Explanation:




Monopolist is not a price-taking firm, so it has no supply curve, because the supply curve shows the quantity of output a firm produces for a given market
price. The monopolist does not take the price as given.

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