Assertion: monopolist's cost | /r/HasProperty | equal
Facets:
value: to marginal revenue
type: OTHER
Source sentences:
text: Thus the monopoly firm will always set their quantity at the level where marginal cost is equal to marginal revenue.
text: If a monopolist wants to maximize profits, he sets units produced to where marginal cost is equal to marginal revenue, and then charges the price that demand will pay for that many units (in a one price market).
text: The monopolist searches the demand curve for the profit-maximizing price where the cost of producing an additional unit of output, marginal cost, is equal to the additional revenue received from selling, marginal revenue, an additional unit of product.
text: The firm still produces where marginal cost and marginal revenue are equal; however, the demand curve (MR and AR) has shifted as other firms entered the market and increased competition.