Hi Tutor

A monopolist does not have a typical supply curve because...

1. numerous demand curves could have identical marginal revenue at a given a point on a monopolists marginal cost curve
2. a monoplits is not a price taker
3. there is no unique correspondence between price and revenue when the market demand curve shifts
4. all of the above

and then, if the long-run marginal cost curve is below the marginal revenue curve at the point of output for a monopolist that is making profit, then the firm has...

1. too large a plant size
2. too small a plant size
3. insufficient knowledge about plant size until it knows its marginal cost
4. insufficient knowledge about plant size until it knows its demand curve