market power

market power. The ability to reduce output and raise prices above the competitive level — specifically, above marginal cost — for a sustained period, and to make a profit by doing so. • In antitrust law, a large amount of market power may constitute monopoly power. See MONOPOLIZATION. Cf. MARKET SHARE .

“In economic terms, market power is the ability to raise prices without a total loss of sales; without market power, consumers shop around to find a rival offering a better deal.” 54 Am. Jur. 2d Monopolies, Restraints of Trade, and Unfair Trade Practices § 49, at 110 n.87 (1996).

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法律翻译舒婷，知名法学院保险学专业，专注翻译各类与保险与再保险诉讼有关的法律文件。