Market power in the U. S. has decreased as a result of increased foreign competition, deregulation, and the information revolution.

Question

Quizplus · Accepted Answer

Increased foreign competition has introduced more options for consumers and decreased the market power of domestic firms. Deregulation has opened up markets to more competition, reducing the market power of established firms. The information revolution has enabled easier access to information about competing products and prices, allowing consumers to make more informed choices and reducing the market power of firms that had relied on information asymmetry.

Market Power in the U