Sunrich Company can process solar energy into an inexpensive fuel for internal combustion engines.As an innovator in its market,Sunrich currently has the power to affect the price of its product.This is

Question

Sunrich Company can process solar energy into an inexpensive fuel for internal combustion engines.As an innovator in its market,Sunrich currently has the power to affect the price of its product.This is​

Quizplus · Accepted Answer

Market power refers to a company's ability to influence the market price of its product or service due to its dominance in the market. Sunrich's ability to affect the price of its product gives it market power. Predatory pricing refers to a strategy where a company sets unnaturally low prices with the aim of driving competitors out of business. Price discrimination is a strategy where a company charges different prices to different customers for the same product or service. Price-fixing refers to the illegal collusion between companies to fix prices for a particular product or service. None of these accurately describe Sunrich's situation, making A the best answer.

Sunrich Company Can Process Solar Energy into an Inexpensive Fuel