Market power refers to the
A)power of a single person or small group to influence market prices.
B)ability of a person or small group to successfully market new products.
C)power of the government to regulate a market.
D)importance of a certain market in relation to the overall economy.

Question

Quizplus · Accepted Answer

Market power is the ability of a firm or a group of firms to raise and maintain prices above the level that would prevail under competition, influencing market prices to their advantage.

Market Power Refers to the