We can order the industries based on market power and their ability to set prices, starting with the highest as follows:
- Video games
- Construction lumber
- Electric Companies
How to order the industries
The video games industry often has the highest market power due to several factors that include strong brand recognition, high consumer demand, and network effects. High consumer demand is seen in how gamers are willing to pay premium prices for new releases and in-game items.
Construction lumber is affected by factors like a limited number of suppliers and high transportation costs. Electric companies are regulated by the government so they may not be able to set prices as they wish.
Complete Question:
Order the industries based on increasing market power and ability to set prices, starting with the highest.Electric companies Construction lumber* Video games"