Explain why a monopoly has no supply curve

Reference no: EM13182392

1. Please explain why a monopoly has no supply curve.

2. Explain why in a monopolistic industry, if demand and cost curves are the same as those of a competitive industry, and if the demand curve has a negative slope and the supply curve has a positive slope, then monopoly output will be lower and price will be higher than those of the competitive industry.

Reference no: EM13182392

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