What key element does Tirole police through his analysis of market regulation?
Human Rights
Climate Change
Market Power
Crime Rate
Answer
Market power is the ability of a firm to set prices and control output in a market. Firms with market power can earn profits in excess of what they would earn in a competitive market. Market power can arise from a number of factors, including economies of scale, brand loyalty, and barriers to entry.
Mastering the Jean-ius: A Quiz on the Extraordinary Mind of Jean Tirole
More Questions
In what context did Tirole quote about'private interests and lack of compassion'?
What aspect of economic world does Tirole believe is dominated by private interests?
How does Tirole believe economic regulation should be?
What specific prize in economics did Tirole win in 2014?
What does Jean Tirole believes should not hinder the fairness?
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