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A monopoly does not have a supply curve

* The supply curve is the answer to the question “what quantity does the firm produce at a given price?”
* Can’t answer that question for a monopoly—the price elasticity of demand matters too.
Monopolies are characterized by a lack of economic competition for the good or service that they provide and a lack of viable substitute goods

2007-01-14 15:14:06 · answer #1 · answered by Answerer17 6 · 0 0

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