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Market power is a source of market failure because

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6 years ago

Market power is a source of market failure because

Market power is a source of market failure because
A) it permits firms to ignore the private costs associated with their production activities, thus wasting economic resources.
B) it allows firms to consider only the external costs associated with their production activities, thus distorting the allocation of scarce resources.
C) firms with market power tend to produce too much output, thus wasting scarce economic resources.
D) firms with market power tend to produce too little output, thus misallocating economic resources.
E) firms with market power use their political influence to weaken environmental laws.

Textbook

Introduction to Economic Reasoning

Edition: 8^th

Author: Rohlf

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Retnec Author

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6 years ago

You have the correct answer! Smiling Face with Halo

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