The Market Power of a Firm Refers to Its Ability

question 32

Multiple Choice

The market power of a firm refers to its ability to

• A) erect entry barriers in the industry.
• B) make a profit even when other firms in the industry are making losses.
• C) control its own output level while keeping its price the same as the prices charged by other firms.
• D) affect the market price for its industry's output.

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