What does market power refer to
A)the side effects that may occur in a market
B)the government regulations imposed on the sellers in a market
C)the ability to influence price
D)the forces of supply and demand in determining equilibrium price

Question

Quizplus · Accepted Answer

Market power refers to the ability of a seller or group of sellers to influence the price of a good or service in the market. This can be due to a lack of competition or other factors that give a seller the ability to set prices independently of market forces.

What Does Market Power Refer to