Question

Explain the concept of supply curve under monopoly? ​

Answer 1

Answer:

A monopoly firm has no well-defined supply curve. In other words, there is no unique supply curve for the monopolist derived from his MC curve. Under perfect competition, short run MC curve above the shut-down point is the supply curve which shows a unique relationship between price and quantity.

Answer 2

Explanation:

A monopoly firm has no well-defined supply curve. In other words, there is no unique supply curve for the monopolist derived from his MC curve. Under perfect competition, short run MC curve above the shut-down point is the supply curve which shows a unique relationship between price and quantity.