In economics, market power is the ability of the company to change the market price of the goods or services. A firm with market power can raise prices without losing customers to competitors. When one of the buyer or seller in the market have the ability to exert influence over a significant amount of goods and services being traded or the price at which they sold. Market forces did not exist when there is perfect competition, but not when there is a monopoly, monopsoni or build oligopoly. A firm with market power can Beat its competitors: a. b. to Create that perfect competition c. buy cheap d. Dictate priceA firm with market power can:A. Beats its competitorsB. Create perfect competitionC. Buy cheap materialsD. Dictate pricesbecause the occurrence of monopolistic competing purchasers will be increasingly fierce so where there is a monopoly of all competitors will surely besaing to peneurunan prices as cheap as-cheapness
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