____ holds a dominant position in the market for the goods it produces.

Question

Quizplus · Accepted Answer

A monopoly firm has no competition and therefore holds a dominant position in the market for the goods it produces. This allows the firm to control prices and output levels, giving them significant market power. An oligopoly also has significant market power, but there are multiple firms in the market. Multi-national corporations and conglomerates can have dominance in certain markets, but not necessarily across all markets they operate in. A parent firm is simply a company that owns subsidiary companies.

____ Holds a Dominant Position in the Market for the Goods