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The demand curve for a monopolist differs from the demand curve faced by a competitive firm?
The pure monopolist's market situation differs from that of a competitive firm in that the monopolist's demand curve is downsloping, causing the marginal-revenue curve to lie below the demand curve. Like the competitive seller, the pure monopolist will maximize profit by equating marginal revenue and marginal cost. Barriers to entry may permit a monopolist to acquire economic profit even in the long run.
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A firm in a monopolistically competitive market is similar to a monopolist in the sense that it?
faces a downward-sloping demand curve
Is it true the demand curve of a monopolistic competitive firm is more elastic than that of a pure monopolist?
YES
What is the demand curve faced by a pure monopolist?
The demand curve faced by a pure monopolist is of downward sloping in shape.
What does the supply curve of a pure monopolist form look like?
The supply curve of a pure monopolist is not well-defined like that of a competitive firm because a monopolist sets prices based on demand rather than producing a specific quantity at a given price. Instead of a typical upward-sloping supply curve, a monopolist determines the quantity to produce by equating marginal cost with marginal revenue, and then uses the demand curve to set the price. Consequently, the monopolist's pricing and output decisions are influenced by the market demand, leading to a downward-sloping demand curve rather than a distinct supply curve.
The nondiscriminating pure monopolist's demand curve is the industry demand curve.?
yes
A firm in a monopolistically competitive market is similar to a monopolist in the sense that it?
faces a downward-sloping demand curve
Is it true the demand curve of a monopolistic competitive firm is more elastic than that of a pure monopolist?
YES
What is the demand curve faced by a pure monopolist?
The demand curve faced by a pure monopolist is of downward sloping in shape.
What does the supply curve of a pure monopolist form look like?
The supply curve of a pure monopolist is not well-defined like that of a competitive firm because a monopolist sets prices based on demand rather than producing a specific quantity at a given price. Instead of a typical upward-sloping supply curve, a monopolist determines the quantity to produce by equating marginal cost with marginal revenue, and then uses the demand curve to set the price. Consequently, the monopolist's pricing and output decisions are influenced by the market demand, leading to a downward-sloping demand curve rather than a distinct supply curve.
The nondiscriminating pure monopolist's demand curve is the industry demand curve.?
yes
Is the monopolist's demand curve elastic or inelastic?
The monopolist's demand curve is typically inelastic, meaning that changes in price do not have a significant impact on the quantity demanded by consumers.
The demand curve any monopolist uses in making output decisions is?
the same as the market demand curve.
When a second firm enters a monopolist's market what will the initial demand curve facing the monopolist do?
shift to the left.
How does the elasticity of the monopolistic competitor's demand curve compare to that of a pure competitor or a pure monopolist?
A monopolistic competitor's demand curve is less elastic than apure competitor's which is less elastic than a pure monopolist's.
Would a monopolist ever operate in the in elastic portion of demand curve?
yes
What will a monopolist firm do if it's demand curve lies below its average variable cost curve?
It will shut down.
Why monopoly has no suply curve?
Monopoly has no supply curve because the monopolist does not take price as given, but set both price and quantity from the demand curve.
