What does the term Market Power mean in microeconomic theory

  • 2
    Could you make please make your question more clear? Googling the term gave several definitions that seem fine to me. If you have trouble understanding a definition let us know which part confuses you. – denesp Jun 22 at 17:51
  • 1
    I downvoted this because there is no (correctly phrased) question (one that uses proper English), and there is a lack of evidence of what research @Sanjay has done in order to solve this question. – ahorn Jun 23 at 17:15
up vote 3 down vote accepted

In competition policy (part of microeconomics), market power is often defined as the ability of a firm to raise and maintain prices above the levels that would prevail under competitive conditions (with obvious adjustments if the market power is held by a buyer). Having market power does not necessarily mean it is used or abused, just that it can be

See for example:

Your Answer

 

By clicking "Post Your Answer", you acknowledge that you have read our updated terms of service, privacy policy and cookie policy, and that your continued use of the website is subject to these policies.

Not the answer you're looking for? Browse other questions tagged or ask your own question.