Assertion: oligopoly's price | /r/CapableOf | equal marginal cost
Facets:
value: in a perfectly competitive market
type: OTHER
value: nearly
type: DEGREE
Source sentences:
text: Small firms are approximately competitive (price nearly equals marginal cost), while large firms reduce output to keep the price higher, and the amount of the reduction, in price-cost terms, is proportional to market share.
text: A PC company maximizes profits by producing such that price equals marginal costs.
text: Therefore, the only equilibrium in which none of the firms will be willing to deviate is when price equals marginal cost.
text: In a perfectly competitive market, price equals marginal cost.
text: : In a perfectly competitive market, price equals marginal cost.
text: : A PC company maximizes profits by producing such that price equals marginal costs.