Why can the monopoly operate in any portion of the demand curve it wants?

**not sure but is it because everything (demand, marginal revenue, prices, etc) is so adaptable so the monopoly can find ways to get the best possible point in order to gain the most profit? not sure :/ would that be right? or is it something else? Thank you!! :)

Question

Why can the monopoly operate in any portion of the demand curve it wants?

**not sure but is it because everything (demand, marginal revenue, prices, etc) is so adaptable so the monopoly can find ways to get the best possible point in order to gain the most profit? not sure :/ would that be right? or is it something else? Thank you!! :)

skullpatrol · Answer

What is the definition of a monopoly?

anonymous · Answer

it's when there is exclusive possession of a commodity or service right?

skullpatrol · Answer

Yes, the monopolizer is the ONLY one who is THE supplier of a commodity or service, therefore regardless of the demand the monopolizer can offer as much or as little as he wants, right?

anonymous · Answer

ohhh so the monopoly can operate in any portion of the demand curve it wants because they are the only one who supplies and changes everything being offered? :O

skullpatrol · Answer

Yes, the monopolizer is the only supplier.

anonymous · Answer

ahh okie yay!! thank you:D

skullpatrol · Answer

Thanks for asking :)

anonymous · Answer

:D