Market power is defined as the power to control prices or exclude competition in a relevant market.

Name: Market power is defined as the power to control prices or exclude competition in a relevant market.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Market power is commonly defined as the power of a firm or group of firms to control prices, exclude competition, or otherwise influence aspects of a relevant market. This power can be derived from factors such as market share, barriers to entry, and product differentiation.

Market Power Is Defined as the Power to Control Prices