An example of a firm with market power is a a

Marketing Jan 14, 2021

An example of a firm with market power is a

a. delicatessen in New York.

b. cable TV provider in St. Louis.

c. clothing store in Los Angeles.

d. family farm in Illinois.

Expert Solution

Answer: B

The cable TV provider is likely the only provider of cable for many households in St. Louis and the government thus regulates it as other utility firms. Thus, the cable provider likely has a large degree of market power. The family farm sells a homogeneous goods and has a small amount of market share. There are countless clothing stores and delicatessen stores Los Angeles and New York.

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