Is there a supply curve for a monopoly firm; explain (Nov’07, Dec'13)

Q. Is there a supply curve for a monopoly firm; explain (Nov’07, Dec'13)?

Answer: The monopoly firm has no supply curve that is independent of the demand curve for its product.

The explanation about no supply curve for monopoly curve is following:

The monopolist is the single seller so we don’t need to aggregate all the individual firms’ marginal cost curves to obtain the industry supply curve. The monopolist’s output decision depends not only on its marginal cost, but also on the demand curve. Thus, shifts in demand lead to changes in price, in output or both. There is no one-to-one correspondence between the price and the seller’s quantity, unlike in perfect competition.

x

At last we can say, because the monopolist's supply decision cannot be set out independently of demand. Since supply curve tells us the quantity that a firm chooses to supply at any given price and on the other hand, a monopoly firm is a price maker; the firm sets the price and at the same time it chooses the quantity to supply. The market demand curve tells us how much the monopolist will supply.