Assertion: monopoly's price | /r/HasProperty | equal
Facets:
value: to that product’s marginal cost
type: OTHER
value: to one over one
type: OTHER
value: to the reciprocal
type: OTHER
Source sentences:
text: Samuelson indicates this point on the Consumer Demand curve is where Price is equal to one over one plus the reciprocal of the price elasticity of demand.
text: This form of economic efficiency is said to exist when the price that customers pay for each product is equal to that product’s marginal cost.