What does the term Market Power mean in microeconomic theory
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2$\begingroup$ 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. $\endgroup$– GiskardJun 22 '18 at 17:51
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1$\begingroup$ 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. $\endgroup$– ahornJun 23 '18 at 17:15
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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:
