Assertion: monopolist's cost | /r/HasSubevent | costs
Facets:
value: at lower production levels
type: OTHER
Source sentences:
text: Since a high fixed cost will result in a higher product market unit costs at lower production levels, and lower unit costs at higher production levels, the combination of a small product market demand for the firm's product, and the high revenue levels the firm needs to cover the high fixed costs it faces, indicate this product market will be dominated by a single large firm that uses Economies of scale to minimize both its Unit cost and its product price.