Which of the following are sources of market power?

Question

Quizplus · Accepted Answer

I - Control of a key resource: a firm that has control over a key resource that is essential to production, such as a rare raw material or patented technology, can exercise market power by limiting supply and raising prices.
II - Economies of scale: a firm that operates on a large scale may achieve lower costs per unit of output, making it difficult for smaller firms to compete. This can lead to market power and the ability to raise prices.
III - Government regulations: in some cases, government regulations can create market power by restricting entry into a market and limiting competition. This can give existing firms the ability to raise prices without fear of losing market share.

Which of the Following Are Sources of Market Power