Assertion: monopoly | /r/CapableOf | set price
Facets:
value: on their products
type: LOCATION
value: on services
type: LOCATION
value: for their output
type: PURPOSE
value: to
type: TRANSITIVE-OBJECT
value: arbitrarily
type: MANNER
value: without government regulation
type: OTHER
value: above the competitive equilibrium
type: OTHER
Source sentences:
text: Hence, the monopoly would set a price that would maximize the profits that they gain, but cause the consumers to have to pay more for the same good.
text: Without government regulation, monopolies could put prices above the competitive equilibrium.
text: If a monopoly can only set one price it will set it where marginal cost ( MC ) equals marginal revenue ( MR ) as seen on the below diagram.
text: Hence, the monopoly would set a price that would maximize the profits that they gain, but cause the consumers to have to pay more for the same good.
text: Since they can set any prices they want, they will raise costs for consumers.
text: With a strong market power, the monopoly is able to set prices for their output based on the demand and supply of the market.
text: : With a strong market power, the monopoly is able to set prices for their output based on the demand and supply of the market.
text: Being able to set prices, a monopoly thus creates surpluses and deadweight loss
text: A monopoly is a type of firm that wants to make its profits as big as possible, and as the market does not have any other large firms, the monopoly is able to set prices on their products or services.
text: Since monopolies have no competition, they can arbitrarily set prices to whatever they feel like with little to no recourse.
text: Being able to set prices, a monopoly thus creates surpluses and deadweight loss
text: A monopoly is a type of firm that wants to make its profits as big as possible, and as the market does not have any other large firms, the monopoly is able to set prices on their products or services.