Assertion: monopolist's cost | /r/HasProperty | mc
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: The rule of profit maximization in a world of perfect competition was for each firm to produce the quantity of output where P = MC, where the price (P) is a measure of how much buyers value the good and the marginal cost (MC) is a measure of what marginal units cost society to produce.
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 price (P) reflects demand, and as such is a measure of how much buyers value the good, while the marginal cost (MC) is a measure of what additional units of output cost society to produce.
text: The rule of profit maximization in a world of perfect competition was for each firm to produce the quantity of output where P = MC, where the price (P) is a measure of how much buyers value the good and the marginal cost (MC) is a measure of what marginal units cost society to produce.
text: This point corresponds to the point where Marginal Revenue (MR) = Marginal Cost (MC)
text: The rule of profit maximization in a world of perfect competition was for each firm to produce the quantity of output where P = MC, where the price (P) is a measure of how much buyers value the good and the marginal cost (MC) is a measure of what marginal units cost society to produce.
text: Profit Maximizing Output is set at Marginal Cost (MC)
text: The equilibrium price and quantity is at the point were marginal cost (MC)
text: For a competitive firm, profit is maximized when marginal cost ( MC ) = market price.
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.