<P> There is no such thing as a monopoly supply curve . Perfect competition is the only market structure for which a supply function can be derived . In a perfectly competitive market the price is given by the marketplace from the point of view of the supplier; a manager of a competitive firm can state what quantity of goods will be supplied for any price by simply referring to the firm's marginal cost curve . To generate his supply function the seller could simply initially hypothetically set the price equal to zero and then incrementally increase the price; at each price he could calculate the hypothetical quantity supplied using the marginal cost curve . Following this process the manager could trace out the complete supply function . A monopolist cannot replicate this process, because price is not imposed by the marketplace and hence is not an independent variable from the point of view of the firm; instead, the firm simultaneously chooses both the price and the quantity subject to the stipulation that together they form a point on the customers' demand curve . A change in demand can result in "changes in price with no changes in output, changes in output with no changes in price or both". There is simply not a one - to - one relationship between price and quantity supplied . There is no single function that relates price to quantity supplied . </P> <Table> <Tr> <Td> </Td> <Td> This section needs expansion . You can help by adding to it . (May 2011) </Td> </Tr> </Table> <Tr> <Td> </Td> <Td> This section needs expansion . You can help by adding to it . (May 2011) </Td> </Tr>

List and discuss the various types of supply