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competition
The term is Market Power!
Imperfect monopoly
Market power is the ability of a firm to dictate their own prices without having to succumb to market prices. Market power usually occurs if the firm has control over a large part of the market.
Price Takers have no influence on market.
competition
The term is Market Power!
The term is Market Power!
The term is Market Power!
Imperfect monopoly
Market power is the ability of a firm to dictate their own prices without having to succumb to market prices. Market power usually occurs if the firm has control over a large part of the market.
The term is Market Power!
Price Takers have no influence on market.
The term is Market Power!
A firm with market power has the ability to control prices and total market output .
Perfect Compitition.
A bargaining power is the ability to influence the setting of prices or wages, usually from a monopoly position.