Register
When firms have the power to restrict output, raise prices, stifle competition, and inhibit innovation the market failure involved is ___________.Select one: a. Market power b. Public goods c. Inequities
77.9k views
1 vote
When firms have the power to restrict output, raise prices, stifle competition, and inhibit innovation the market failure involved is ___________.Select one: a. Market power b. Public goods c. Inequities d. Externalities

User Gusdor
by
6.9k points

1 Answer

5 votes

Answer:

a. Market power

Step-by-step explanation:

Market power is defined as the firm's ability to restrict output and charge higher prices than in perfect competition.

User Sabarish
by
6.2k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

6.5m questions

8.6m answers

Other Questions

One reason that businesses want to combine with other businesses is to A. avoid taxes. B. delay expenses. C. hire more workers. D. reduce expenses.
Which of the following possesses the sole power to create revenue bills?
Which of the following is an example of a fixed expense? A.) Clothing B.) Rent C.) Food D.) Entertainment
A ______ is "the basic interpretive mechanism to let people know what an organization is doing and are sent out to editors and reporters in hopes of stimulating favorable stories about their organizations"
All of the following are fees typically charged by credit card companies EXCEPT: A. Late payment fee B. Balance Transfer fee C. Annual membership fee D. Reload fee
Link Copied!