Monopoly power occurs when a shift in market demand does not affect a monopoly's profits.

Name: Monopoly power occurs when a shift in market demand does not affect a monopoly's profits.
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Monopoly power refers to the ability of a monopolist to set prices above competitive levels for a significant period of time. A shift in market demand can affect a monopoly's profits by changing the quantity of goods sold and the price the monopolist can charge.

Monopoly Power Occurs When a Shift in Market Demand Does