Assertion: monopolist's revenue | /r/HasProperty | equal
Facets:
value: to marginal cost
type: OTHER
value: to price
type: OTHER
value: in the case of perfect competition
type: TEMPORAL
value: for a monopolist
type: OTHER
value: exactly
type: DEGREE
value: to the $8
type: OTHER
value: at unit q
type: OTHER
value: to p
type: OTHER
value: simply
type: DEGREE
Source sentences:
text: The monopolist will choose to produce 3 units of output because the marginal revenue that it receives from the third unit of output, $4, is equal to the marginal cost of producing the third unit of output, $4.
text: For a monopolist, marginal revenue is a. equal to price, as it is for a perfectly competitive firm.
text: The marginal revenue that the monopolist receives from supplying 1 additional unit is equal to the price that it receives for this unit minus its loss in revenue from having to sell N units of output at a lower market price.
text: The monopolist's marginal revenue is equal to the $8 that it receives from the third unit sold minus the loss in total revenue that it receives on the first two units due to the new lower price.
text: For a perfect competitor, each additional unit sold brought a positive marginal revenue, because marginal revenue was equal to the given market price.
text: Thus, a profit-maximizing monopoly should follow the rule of producing up to the quantity where marginal revenue is equal to marginal cost
text: The key difference with a perfectly competitive firm is that in the case of perfect competition, marginal revenue is equal to price (MR = P), while for a monopolist, marginal revenue is not equal to the price, because changes in quantity of output affect the price.
text: For a perfect competitor, each additional unit sold brought a positive marginal revenue, because marginal revenue was equal to the given market price.
text: Thus, a profit-maximizing monopoly should follow the rule of producing up to the quantity where marginal revenue is equal to marginal cost
text: The key difference with a perfectly competitive firm is that in the case of perfect competition, marginal revenue is equal to price (MR = P), while for a monopolist, marginal revenue is not equal to the price, because changes in quantity of output affect the price.
text: For a perfect competitor, each additional unit sold brought a positive marginal revenue, because marginal revenue was equal to the given market price.
text: Thus, a profit-maximizing monopoly should follow the rule of producing up to the quantity where marginal revenue is equal to marginal cost
text: The key difference with a perfectly competitive firm is that in the case of perfect competition, marginal revenue is equal to price (MR = P), while for a monopolist, marginal revenue is not equal to the price, because changes in quantity of output affect the price.
text: However, if the monopolist is perfectly price discriminating then the marginal revenue is simply equal to P at unit Q and the monopolist will continue to produce until P = MC (or as long as P > MC) as by producing another unit, he does not have to alter the prices of the previous units.
text: For a perfect competitor, each additional unit sold brought a positive marginal revenue, because marginal revenue was equal to the given market price.
text: The profit-maximizing choice for the monopoly will be to produce at the quantity where marginal revenue is equal to marginal cost: that is, MR = MC.
text: Thus, a profit-maximizing monopoly should follow the rule of producing up to the quantity where marginal revenue is equal to marginal cost
text: The key difference with a perfectly competitive firm is that in the case of perfect competition, marginal revenue is equal to price (MR = P), while for a monopolist, marginal revenue is not equal to the price, because changes in quantity of output affect the price.
text: Where does a monopolist's profit-maximizing quantity of output occur? occurs where marginal revenue is equal to marginal cost.
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.
text: This means that the extra revenue from producing one more unit of output is exactly equal to the cost of producing one more unit of output: marginal revenue equals marginal cost.
text: For a perfect competitor, each additional unit sold brought a positive marginal revenue, because marginal revenue was equal to the given market price.
text: Thus, a profit-maximizing monopoly should follow the rule of producing up to the quantity where marginal revenue is equal to marginal cost
text: The key difference with a perfectly competitive firm is that in the case of perfect competition, marginal revenue is equal to price (MR = P), while for a monopolist, marginal revenue is not equal to the price, because changes in quantity of output affect the price.
text: Profit-Maximizing Level of Output – the level of output where marginal revenue is equal to marginal cost
text: – the level of output where marginal revenue is equal to marginal cost Total Revenue – the aggregate revenue gained by a firm from the sale of a particular quantity of output (equal to price times quantity sold)
text: less than price, whereas marginal revenue is equal to price for a perfectly competitive firm.
text: b. average revenue is equal to marginal cost.
text: c. marginal revenue is equal to marginal cost.
text: C. Price and marginal revenue are equal at all levels of output.
text: Monopolist desire to produce output to the point where marginal revenue is equal to marginal cost