Assertion: monopolist's price | /r/HasProperty | pm
Facets:
Source sentences:
text: A competitive market produces at Qc and Pc A monopoly produces less (Qm) and charges higher price (Pm)
text: Therefore, a monopolist’s marginal revenue (MR) is always less than the price (P) of its good or service.
text: Thus, if the monopolist chooses a high level of output (Qh), it can charge only a relatively low price (PI).
text: Firms with monopoly power can set higher prices (Pm) than in a competitive market (Pc).