Market power is an expression used to indicate that a firm hasA) no rivals.B) the power to sell a given output at whatever price it chooses.C) some freedom from the rigors of intense competition.D) a monopoly over the product it produces.

Question

Market power is an expression used to indicate that a firm hasA)  no rivals.B)  the power to sell a given output at whatever price it chooses.C)  some freedom from the rigors of intense competition.D)  a monopoly over the product it produces.

Kaylee Hassell · Accepted Answer

Final Answer : C, Explanation :  Market power refers to a firm's ability to influence the price of its product or terms of sale, which implies some freedom from intense competition, but not necessarily a monopoly or the ability to set any price.

"Market power" is an expression used to indicate that a firm has

A) no rivals.
B) the power to sell a given output at whatever price it chooses.
C) some freedom from the rigors of intense competition.
D) a monopoly over the product it produces.

Definitions

Learning Objectives

Learning Objectives

Related questions

"Market power" is an expression used to indicate that a firm hasA) no rivals.B) the power to sell a given output at whatever price it chooses.C) some freedom from the rigors of intense competition.D) a monopoly over the product it produces.

Definitions

Learning Objectives

Learning Objectives

Related questions

"Market power" is an expression used to indicate that a firm has

A) no rivals.
B) the power to sell a given output at whatever price it chooses.
C) some freedom from the rigors of intense competition.
D) a monopoly over the product it produces.