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Denzel Yakam
on Dec 18, 2024

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Companies with monopoly power use their economic power to limit production and raise prices, thus harming the consumer, is an example of the ________ theory.

A) competition
B) specialized
C) economic
D) production
E) market

Monopoly Power

The ability to control price and drive competitors out of the market.

Economic Power

The capacity of an entity or country to influence or control economic activities through financial means, production capabilities, or market control.

Limit Production

A strategy or policy implemented to restrict the quantity of goods produced, often to maintain prices or conserve resources.

  • Understand the economic theories underlying the enactment and enforcement of antitrust laws.
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JR
Josephine RemolloDec 19, 2024
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