True about market power, Which of the following statements

True about market power

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Reference no: EM131091288

Which of the following statements is true about market power?

When a firm has market power, it produces exactly the socially efficient quantity.

Market power leads to lost social welfare.

There is nothing the government can do to correct for market power.

The socially efficient price and quantity arise naturally in a monopoly market.

Reference no: EM131091288

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