question archive What determines the level of market power a monopolist can exercise?
What determines the level of market power a monopolist can exercise?
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What determines the level of market power a monopolist can exercise?
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The level of market power that monopolies can exercise is determined by exclusive ownership rights, barriers to entry, and government policy. This is because, with exclusive rights and by erecting barriers, the monopoly can exercise any market power that can only be controlled by government policy.
