Is the loss in efficiency due to market power large or small? explain. the loss in efficiency due to market power is a. large because virtually every firm has at least some market power. b. small because even firms without market power are economically inefficient. c. small because firms with substantial market power are rarefirms with substantial market power are rare. d. large because almost every industry is a monopoly with firms that have substantial market power. e. small because almost every industry is perfectly competitive with firms that have no market power.