Definitions for "Market Power"
The ability of an individual firm to exert control over prices prevailing in the markets for its products or services. The highest degree of market power is associated with a monopoly, although all firms except those in perfectly competitive markets possess some degree of market power. Countries' competition policies generally are aimed at curbing the perceived economic and political costs associated with market power.
Ability of a firm or other market participant to influence price by varying the amount that it chooses to buy or sell. Ability of a country to influence world prices by altering its trade policies.
a firm's power to set its price without losing its entire share of the market.
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