Firms with market power must decide all of the following EXCEPT

Name: Firms with market power must decide all of the following EXCEPT
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Firms with market power have the ability to influence prices and output levels in the market. As a result, they have the power to decide how much to produce, how to produce it, and what price to charge for their output. However, the supply of inputs is not entirely under the control of the firm and may be subject to supply and demand forces in the input market.

Firms with Market Power Must Decide All of the Following