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7 October, 16:55

Is the loss in efficiency due to market power large or small? explain. the loss in efficiency due to market power is?

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  1. 7 October, 19:07
    0
    Small

    Explanation:

    Competition limits the market power, even when the market is not perfectly comparative.

    Market power refers to a company's relative ability to manipulate the price of an item in the marketplace by manipulating the level of supply demand or both.

    A company with substantial market power has the ability to manipulate the market price and thereby control its profit margin, and possibly the ability to increase obstacle to potential new entrants into the market.
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