TUGAS 3 BAHASA INGGRIS NIAGA

Market Power
In economics, market power is the ability of a firm to alter the market price of a good or
service. A firm with market power can raise prices without losing all customers to competitors.
When one buyer or seller in a market has the ability to exert significant influence over the
quantity of goods and services traded or the price at which they are sold. Market power does
not exist when there is perfect competition, but it does when there is a monopoly, monopsony
or oligopoly.

A firm with market power can:

A. Beats its competitors.
B. Create perfect competition.
C. Buy cheap materials.
D. Dictate prices.

A firm with market power can :

A. Beats its competitors

Can beats its competitors because a firm with market power has the ability to have a
significant influence on the amount of goods and services traded or the prices at which
they are sold.

D. Dictate prices
Can dictate the market price for a firm with market power has the ability to exert the
market price of the goods or services. A firm with market power can raise prices without
losing all customers to competitors.