When a company has market power, it is _____ in its market.
A)one of many small companies
B)not a price-taker
C)a producer of nondifferentiated products
D)not able to impact the market equilibrium price

Question

Quizplus · Accepted Answer

When a company has market power, it means it has the ability to control the price of its products or services. This makes the company a price-setter instead of a price-taker. Therefore, option B, "not a price-taker" is the correct choice. The other options do not describe a company with market power.

When a Company Has Market Power, It Is _____ in Its