Question

What is market power?

division of customers into groups based on how much they will pay for a good
he ability of a company to change prices and output like a monopolist
the right to sell a good or service within an exclusive market
factors that cause a producer’s average cost per unit to fall as output rises

Answer 1

I would say the correct answer is B. the ability of a company to change prices and output like a monopolist. Market power is basically the power of a particular company to manipulate the price of the product and thus affect all other participants, as well as customers. Monopolists have the greatest market power; conversely, in an ideally balanced economy, nobody would have market power. All participants would have equal chances and nobody would dictate the terms to others.