knussoshd3440 knussoshd3440
  • 03-01-2020
  • Business
contestada

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

Respuesta :

Karabo99
Karabo99 Karabo99
  • 04-01-2020

Answer:

a. Market power

Explanation:

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

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