After reading the Learning Activity titled “Elastic Demand,” please answer the following. The section on Market Power contrasts two different companies with different levels of market power. Compare the company given in the text with another example of a company that has high and low market power that was not mentioned in the reading. Then, explain why each of these mentioned companies represent a high or low market power firm. Lastly, provide an example of an industry that you work in or want to work in and identify a company that you feel has a high market power. Explain your rationale.
