NAMA : MUHAMMAD IQBAL JAYA SAMPURNA

NIM : 045033183
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

The answer :

Can : D. Dictate prices, because: the market power of a company, are : the company's
ability to profitably raise the market price of goods or services on the marginal
costs. And based on the above article “A firm with the market power of a company
can raise prices without losing all customers to competitors” so A firm with
market power can dictate price