As other firms enter a monopoly's market,the monopoly's market power

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As other firms enter a monopoly's market, the monopoly's market power declines. This is because the entry of new firms increases competition and reduces the monopoly's ability to control the market price. However, the entry of new firms may not eliminate the monopoly completely, and the degree of market power remaining with the monopoly will depend on various factors such as the barriers to entry, economies of scale and the level of product differentiation.

As Other Firms Enter a Monopoly's Market,the Monopoly's Market Power