Question

Is a monopolist a price taker? Explain briefly.

Short answer

A monopolist isn't a price taker, since when it chooses what amount to create, it additionally decides the market cost. For a monopolist, all out income is somewhat low at low amounts of result, since it isn't selling a lot.

Step-by-step solution

Content Introduction

A syndication is what is going on in which one firm delivers the entirety of the result in a market. A monopolist is a person who controls the costs on the lookout.

Content Explanation

A monopolist isn't a cost taker he is a cost creator. A monopolist controls the costs of the result on the lookout and there are no substitutes for that benefit. They change the cost by changing the degree of result. An illustration of such an imposing business model is Indian Railways.