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 exists when a firm is able to influence price above the competitive level.
- It means the firm has some ability to affect the market price of its product.
- Market power is usually associated with limited competition.
- A firm with market power can often charge a price higher than the competitive price.
Last verified on 13-08-2026
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