Strength in arranging the terms of one’s dealing with other firms or people.
A dominant firm is a company that possesses a significant market share in a given sector, typically 40% or more, often due to economies of scale, essential patents, or legal barriers to entry.
A comprehensive overview of barriers to entry that obstruct new firms from entering a market or new workers from competing for employment.
A market situation wherein a single buyer faces a single seller in negotiations for price and quantity.
An exploration of the UK body set up to replace the Competition Commission and the Office of Fair Trading.
Use of an organization by a group of individuals to protect against monopolistic exploitation by others.
A measure of the welfare loss due to market inefficiencies, often resulting from monopolies or government taxation.
A situation where a monopolist sells different units of output at different prices, employing various degrees of price discrimination to maximize profit.
Definition, context, and implications of distorted prices in economics.
A comprehensive overview of the economic practice known as full line forcing.
A merger between firms at the same stage of production
The ability of an economic agent to affect the equilibrium price in a market.
A market structure characterized by many firms selling differentiated products where each firm has some degree of market power but no long-term economic profit.
An overview of government policy towards monopolies, including motivations, strategies, and approaches.
Profit in excess of normal profit earned by a firm that is able to exploit monopoly power.
A comprehensive overview of the concept of natural monopoly in economics, its implications, and the historical context surrounding it.
An economic strategy where pricing is set very low to eliminate competition or deter market entry.
An anti-competitive practice wherein a monopolistic firm increases wholesale prices to eliminate competition at the retail level.
A monopoly protected from competition through legal restrictions or trade barriers.
Explanation of statutory monopoly, a monopoly protected by law.
