A monopolist does not have a supply curve since it determines its price and quantity to provide at the same time. Thus, the correct choice is (a) does not exist.
A monopoly, as defined by Irving Fisher, is a market with "no competition," resulting in a scenario in which a certain individual or organization is the exclusive supplier of a given product. This is in contrast to monopoly, which refers to a single entity's dominance of a market to acquire an item or service, and oligopoly and duopoly, which are characterized by a few vendors dominating a market. Monopolies are therefore distinguished by the absence of economic rivalry to manufacture the commodity or service, the absence of viable replacement goods, and the potential of a high monopoly price considerably beyond the seller's marginal cost, resulting in a high monopoly profit.
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