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Question #48917

If a firm has some degree of market power, then output price ?

Options:

A) no longer influences the amount demand of the firm’s product

B) becomes a decision variable for the firm

C) is guaranteed to be above a firm’s average cost.

D) is determined by the actions of other firms in the industry

Answer: If a firm has some degree of market power, then output price becomes a decision variable for the firm.

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