Assertion: oligopoly's price | /r/HasProperty | lowered
Facets:
value: for consumers
type: TRANSITIVE-OBJECT
value: generally
type: DEGREE
Source sentences:
text: In an oligopoly situation, an oligopolist can expect three kinds of reactions if the price is lowered
text: Prices are controlled by supply and demand, and are generally low for consumers.
text: In this case, an oligopolist can hope that its demand would increase substantially as the prices are lowered,
text: The marginal cost curves of both scenarios will intersect the same quantity being produced by the oligopoly, represented by the vertical line in the graph; therefore, there is no change in quantity produced as prices are lowered, as long as the change in marginal cost is within the marginal revenue gap.