When a firm owns or controls a key input, it has the potential for significant market power.

Name: When a firm owns or controls a key input, it has the potential for significant market power.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Owning or controlling a key input can give a firm significant market power because it can limit access to that input for its competitors, potentially allowing the firm to set higher prices or control the supply in the market.

When a Firm Owns or Controls a Key Input, It