Assertion: firm | /r/CapableOf | produce at the market price
Facets:
Source sentences:
text: In practice this means the firm is so small in proportion to the overall market that it has no market power, so it can sell any quantity it is able to produce at the market price.
text: The firm can sell any quantity it can produce at the market price, so even though the market is likely to face a downward sloping market demand curve, the individual firm faces a horizontal market demand curve at the market price.
text: Because the firm can sell as much as it can produce at the market price, the marginal revenue for each unit sold is equal to the price, and the average revenue is also equal to the price, as every unit costs the same, so when you divide the total revenue by the number of units sold, you get the price.