Assertion: monopolist | /r/CapableOf | charge higher price
Facets:
value: because of the lack of competition
type: CAUSE
value: conversely
type: MANNER
value: typically
type: DEGREE
Source sentences:
text: As a result, monopolists produce less, at a higher average cost, and charge a higher price than would a combination of firms in a perfectly competitive industry.
text: A monopolist will typically charge a higher price and product less goods than would be the result in a competitive market, and for this reason government regulators and lawyers attempt to control monopolies' practices or break them into smaller units.
text: So, the small output Q 1 is not profit- maximising, even though it allows the monopolist to charge a higher price.
text: Conversely, if the monopolist chooses a low level of output (Ql), it can then charge a higher price (Ph).
text: As a result, monopolists produce less, at a higher average cost, and charge a higher price than would a combination of firms in a perfectly competitive industry.
text: Comparing Figure 14.1 "The Competitive Market Outcome" with Figure 14.4 "Distortions Due to Market Power", we see that—relative to the competitive outcome—the monopolist charges a higher price and produces a lower quantity.
text: As a result, monopolists produce less, at a higher average cost, and charge a higher price than would a combination of firms in a perfectly competitive industry.
text: Because of the lack of competition, the monopolist can charge a higher price (P1) than in a more competitive market (at P).