Assertion: monopolist's demand curve | /r/CreatedBy | taking the given market price
Facets:
Source sentences:
text: Demand Curves Perceived by a Perfectly Competitive Firm and by a Monopoly A perfectly competitive firm acts as a price taker, so its calculation of total revenue is made by taking the given market price and multiplying it by the quantity of output that the firm chooses.
text: Demand Curves Perceived by a Perfectly Competitive Firm and by a Monopoly A perfectly competitive firm acts as a price taker, so its calculation of total revenue is made by taking the given market price and multiplying it by the quantity of output that the firm chooses.