Write a one to two-page paper, addressing the following: a. Describe in your own words the concept of market power. b. What are the three reasons that a market might have a Monopoly? c. Give examples of two monopoly Firms exercising their market power Respond to the postings of two of your classmates. Since this discussion is worth 3 points, you should put more effort into it. Your grade will depend on your post AND 2 replies. Your reply has to add to the discussion rather than evaluating the discussion; so replies such as “I agree with you”, “great post”, “great point” ……. Etc. IT WILL NOT BE ACCEPTED. You can add to your discussion from online resources, BUT YOU HAVE TO CITE YOUR WORK.
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