What is the term when a single entity has the ability to influence market prices?
A)competition
B)market power
C)efficiency
D)productivity

Question

Quizplus · Accepted Answer

The term for a single entity having the ability to influence market prices is market power. This entity can be a large corporation, a monopoly, or even a government. Market power allows the entity to have control over the supply and demand for a particular product or service, which can result in higher prices for consumers and lower wages for workers. It is important for regulators to monitor and regulate market power to ensure fair competition and prevent abuse of power.

What Is the Term When a Single Entity Has the Ability