Market power exists when a firm is able to ______?
مارکیٹ پاور اس وقت موجود ہوتی ہے جب کوئی فرم کیا کرنے کے قابل ہو؟
- Eliminate competition
- Influence price above the competitive level
- Reduce production costs
- None of these
Explanation
- Market power: influencing price above the competitive level
- Firm has some ability to affect its product's market price
- Usually linked to limited competition
- Enables charging above the competitive price
Last updated on 25-08-2026 by NS
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