You own a lemonade stand in a competitive lemonade market and, as such, you are a price-taking firm. Which of the following events would most likely increase your market power?

Select one:

a. The government abolishes the system of patents and copyrights.

b. You own exclusive rights to harvest lemons from all domestic citrus orchards.

c. The average total cost curve for firms in the industry is horizontal.

d. A booming economy increases the demand for lemonade and attracts entry into the market.