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Mairoon Mairoon
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6 years ago
The less elastic is the demand for a firm's product, the greater is that firm's market power.
True or False? Provide an explanation.
Textbook 
Microeconomics

Microeconomics


Edition: 6th
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wrote...
6 years ago
True ... Because The less elastic the demand for the firm's product, the greater is the firm's ability to set price over marginal cost.
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