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Question #48918

Market power is ?

Options:

A) a firm’s ability to monopolies a market completely.

B) a firm’s ability to raise price without losing all demand for its product

C) a firm’s ability to sell any amount of output it desires at the market-determined price.

D) a firm’s ability to charge any price it likes

Answer: Market power is a firm’s ability to raise price without losing all demand for its product.

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