Assertion: monopoly's cost | /r/HasProperty | mc
Facets:
Source sentences:
text: Profit Maximizing Output is set at Marginal Cost (MC)
text: If a monopoly can only set one price it will set it where marginal cost ( MC ) equals marginal revenue ( MR ) as seen on the below diagram.
text: The rule of profit maximization in a world of perfect competition was for each firm to produce the quantity of output where P = MC, where the price (P) is a measure of how much buyers value the good and the marginal cost (MC) is a measure of what marginal units cost society to produce.
text: = Marginal Cost (MC).