Assertion: monopolist's price | /r/HasProperty | low
Facets:
value: very
type: DEGREE
value: relatively
type: DEGREE
Source sentences:
text: If the monopolist charges a very low price, then, even if quantity demanded is very high, total revenue will not add up to much.
text: Thus, if the monopolist chooses a high level of output (Qh), it can charge only a relatively low price (PI).
text: If the monopolist sets a low price, the monopolist will gain a lot of customers, but the monopolist will lose the profits it could have made from the customers who bought at the low price but were willing to pay more.
text: Then, supply rises and prices fall which leads to the prices being so low that firms have no incentive to enter into the market
text: The lone buyer will look towards paying a price that is as low as possible.
text: If the monopolist charges a very low price, then, even if quantity demanded is very high, total revenue will not add up to much.