Supply Locus: A Note On The Supply Decisions Of Monopolistic Firms
Abstract
This note introduces the concept of the supply locus to describe the systematic supply responses of monopolistic firms to changes in demand. While in general the supply locus is not unique, it is shown that it is unique in the empirically interesting cases of a) a linear demand that shifts in a parallel fashion, and b) a constant elasticity exponential demand that shifts in a way that preserves its elasticity.
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