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Which of the following is an example of abuse of market power? In a market with a few companies, one company sets its product price
Which of the following is an example of abuse of market power?
In a market with a few companies, one company sets its product price extremely high.
In a market with a lot of companies, one company sets its product price extremely high.
Consumers always have the choice whether or not to buy a product, so companies cannot really hold any power over consumers.
One company has a patented product that consumers need and sets the product price extremely high.
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