The more narrowly that a product market is defined as being,the more likely that the firm will be found to possess monopoly power.

Name: The more narrowly that a product market is defined as being,the more likely that the firm will be found to possess monopoly power.
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Question

Quizplus · Accepted Answer

This statement is true because as the product market becomes increasingly narrow, there are likely to be fewer competitors, making it easier for the firm to have a dominant position and potentially exercise monopoly power.

The More Narrowly That a Product Market Is Defined as Being,the