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Firms do not have market power in which of the following market structures? oligopoly monopoly perfect...

  1. Firms do not have market power in which of the following market structures?
    1. oligopoly
    2. monopoly
    3. perfect competition only
    4. perfect competition and monopolistic competition
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Answer #1

Monopoly is a firm which enjoys the full market power due to only entity present in the market

Monopolistic competition somehow have market power due to the setting of the price according to the market

In oligopoly also due to a few firms enjoys market power(for example by forming cartels)

But in perfect competition, there is no market power due to homogeneity in the products. Price is decided by the supply and demand

So the answer is only Perfect competition which does not enjoy market power that is option C

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