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A monopoly has no supply curve because


no unique demand curve can be associated with each level of the firm’s output.


the firm is able to charge the highest possible price regardless of its level of output.


the firm’s marginal cost curve does not reflect its opportunity cost of production.


the firm will choose to produce only over the range where marginal cost is elastic.


the firm will only choose to produce at an output where its marginal revenue equals its marginal cost.

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