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which of the following statements is true? a monopoly is a firm without market power. all of the answers are correct. market power may result from government regulations or patent protection. market power is the ability to raise price and sell more units of a good.

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a monopoly is a firm without market power. all of the answers are correct.

The capacity to increase a product's price and increase sales is known as market power. Government rules or patent protection may result in market power. A company without market strength is a monopoly. Because they have the ability to influence a market's supply or demand, monopolies, oligopolies, monopsonies, and oligopolies all have market power. Limiting supply in a market might result in a monopoly or oligopoly that drives up the cost of a good. Demand for a company's goods must be rigid in order for it to have market dominance. This indicates that there is a constant need for the goods, regardless of its price.

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