Asked by
Robert Phillips
on Nov 16, 2024Verified
A monopolist's supply curve is horizontal.
Monopolist's Supply
The quantity of goods or services a monopolist chooses to produce and sell, influenced by its market power to set prices.
Horizontal
In economics, horizontal can refer to a market situation where there are many competitors in the industry, but they all offer a similar product or service.
- Comprehend the principle of a monopolist's supply curve and its consequences.
Verified Answer
AA
Learning Objectives
- Comprehend the principle of a monopolist's supply curve and its consequences.