The degree of a seller's market power has an impact on the
A)market demand curve for the seller's market.
B)seller's demand curve.
C)demand curves for individual customers of the seller.
D)seller's cost curves.

Question

Quizplus · Accepted Answer

The seller's demand curve shows the relationship between the price of the seller's product and the quantity of the product that the seller can sell. The degree of a seller's market power affects the seller's demand curve because it affects the seller's ability to set prices and influence the quantity of the product that is sold.

The Degree of a Seller's Market Power Has an Impact