Question
The degree of monopoly power is to be measured in terms of the firm’s
Answer: Option C
Answer: (c)
Monopoly power implies the amount of discretion that a monopolist possesses to fix up the prices of his products and the degree of control over his output decisions.
According to J.S. Bains, the degree of monopoly power can be measured by the monopoly firm's super-normal profit.
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Answer: (c)
Monopoly power implies the amount of discretion that a monopolist possesses to fix up the prices of his products and the degree of control over his output decisions.
According to J.S. Bains, the degree of monopoly power can be measured by the monopoly firm's super-normal profit.
Was this answer helpful ?
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