When firms have the ability to change the market price of a good or service,the market failure involved is:

Name: When firms have the ability to change the market price of a good or service,the market failure involved is:
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Question

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Market power refers to the ability of firms to influence the market price of a good or service. This can lead to market failures, such as higher prices for consumers or reduced quality of goods or services.

When Firms Have the Ability to Change the Market Price