When firms have market power, it means that they:
A. are a price taker.
B. can noticeably affect the market price.
C. do not affect the market quantity offered for sale.
D. can earn as much profit as they want.
B. can noticeably affect the market price.
Economics
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The marginal cost curve intersects the average fixed, average variable, and average total cost curves all at their minimum points
Indicate whether the statement is true or false
Economics
Many manufacturers sell products labeled as having imperfections at a discount at their factory outlets but do not ship these imperfect goods to regular retail outlets. Why?
What will be an ideal response?
Economics