Ticketmaster has an exclusive right to sell tickets to certain events, which is an example of
A) market power.
B) rent seeking.
C) cost minimization.
D) x-inefficiency.

Question

Quizplus · Accepted Answer

Market power refers to the ability of a company to raise and maintain prices above what would be possible in a competitive market, often due to exclusive rights or monopolistic practices, such as Ticketmaster's exclusive rights to sell tickets for certain events.

Ticketmaster Has an Exclusive Right to Sell Tickets to Certain