Ask Question
10 November, 09:03

A firm with market power Select one: a. can increase price without losing all sales. b. faces a downward-sloping demand curve. c. is the only seller in a market. d. both a and b

+2
Answers (1)
  1. 10 November, 12:46
    0
    Answer: d. both a and b

    Explanation: If the company has market power, it means that its customers will get their products no matter how much they care, whether they have no competitors nearby or no substitutes. This company has a monopolistic characteristic, that is, depending on the price set by buyers, they will demand more or less, if this company wants to increase its sales in the future, the price must be lowered.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “A firm with market power Select one: a. can increase price without losing all sales. b. faces a downward-sloping demand curve. c. is the ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers