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Degree of monopoly power

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Degree of Monopoly Power. One of major implications of Blanchard's WS-PS model is that as a firm's monopoly power increases, they have more freedom to increase their mark-up (price the good or service above what the cost is to make it). So, if companies do not have some degree of monopoly power, they cannot markup prices. Do you think companies usually have some degree of monopoly power? Which industries might have more monopoly power than others?

Reference no: EM132484647

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