A Necessary Condition for Market Power to Exist for a Particular

question 9

Multiple Choice

A necessary condition for market power to exist for a particular company in a market is that

• A)information must be understood by both buyers and sellers.
• B)effective barriers to entry must exist.
• C)the number of firms should be over 150.
• D)consumers perceive all products as homogeneous.

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Definitions:

Mary Ainsworth

A developmental psychologist known for her work on attachment theory, especially the Strange Situation procedure to observe attachment relationships between a caregiver and child.

Avoidant Attachment

A type of attachment style characterized by emotional distancing, independence, and reluctance to seek or accept comfort from others.

Secure Attachment

A type of emotional bond between a child and their caregiver characterized by the child's confidence in the caregiver's availability and responsiveness to their needs, leading to a sense of safety and security.

Definition of Temperament

An individual's innate predisposition towards emotional reactivity and intensity of response to the environment.