What is the overall constraint on the monopolist

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A. What is the shape of the demand curve faced by an individual firm operating under perfect competition? Why does the curve assume that shape?
B. If a firm operating under perfect competition cannot cover its variable costs in the short-run, will it continue to produce? Why? Explain.
C. What is the shape of the demand curve that the firm operating as a monopoly faces? How does the firm's demand curve differ from the industry demand curve? Explain.
D. Under monopoly, what is the relationship between price and marginal revenue? At what point does the firm produce in order to determine the output level and price required to maximize profits?
E. As a monopolist, a firm will produce a given output at a particular price in order to maximize its profits. What is the overall constraint, if any, on the monopolist with regard to price and the quantity produced?

Reference no: EM13200845

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