Market power is
A. The ability to alter the market price of a good or service.
B. A characteristic of all market structures.
C. Enjoyed by all firms at high levels of output.
D. Most common for competitive firms.
Answer: A
You might also like to view...
A decrease in the number of sellers in the market causes a. the supply curve to shift to the left
b. the supply curve to shift to the right. c. a movement up and to the right along a stationary supply curve. d. a movement downward and to the left along a stationary supply curve.
The purpose of the IMF is to:
A. provide developing countries with short-term loans and technical assistance. B. determine monetary and fiscal policy in developing countries. C. determine exchange rates for developing countries. D. buy and sell the currencies of developing countries in order to stabilize their value.
The price elasticity of demand is the
A) percentage change in quantity demanded divided by the percentage change in price. B) change in quantity demanded divided by the change in price. C) percentage change in price divided by the percentage change in quantity demanded. D) change in price divided by the change in quantity demanded.
If the number of buyers in a market decreases, then
a. demand will increase. b. demand will decrease. c. supply will increase. d. supply will decrease.