Assertion: monopolist's revenue | /r/HasProperty | mr
Facets:
Source sentences:
text: The most profitable price that they can set is where the optimum output level (where marginal cost (MC) equals marginal revenue (MR) as seen on the diagram below) meets the demand curve.
text: – MR 2 and total revenue is Rs.
text: Total revenue, TR, equals price times quantity
text: The most profitable price for the monopoly occurs when output level ensures the marginal cost (MC) equals the marginal revenue (MR)) associated with the demand curve.
text: The monopolist needs to know the marginal revenue (MR) in order to choose his profit maximising output level.
text: Marginal revenue, MR, equals the derivative of total revenue taken with respect to quantity
text: Note that this price is less than the price charged by a profit-maximizing monopoly, which selects the price where marginal cost = marginal revenue ( MR ).
text: A monopoly firm will maximize profit at that level of output for which long run marginal cost (MC) is equal to marginal revenue (MR) and the LMC curve intersects the MR curve from below.
text: Therefore, a monopolist’s marginal revenue (MR) is always less than the price (P) of its good or service.