Market power flashcard sets

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market power definitions
# Definition Sets
1the ability of a single economic actor (or small group of actors) to have a substantial influence on market prices17 sets
2the ability of a company to change prices and output like a monopolist6 sets
3a firm's ability to raise the price of a good without losing all its sales4 sets
4the ability of an individual or group to substantially influence market prices3 sets
5the ability of a firm to raise its price without losing all sales to rivals2 sets
6the ability of a single firm or group of firms to have a substantial influence on market prices.2 sets
7the ability of single economic actor (or small group of actors) to have a substantial influence on market prices1 set
8a single buyer or seller has substantial influence on market price1 set
9the ability ofa single economic actor (or small group of actors) to have a substantial influence on market prices.1 set
10firms' abilities to profit through restricting or controlling supply to a market or coordinating with other firms to reduce investment1 set
11ability of single person to influence market prices1 set
12the power of an imperfectly competitive firm to raise price w/o losing all of its quantity demanded1 set
13market power exists when a firm is able to sell its products above the existing competitive level or to reduce the costs of its primary and support activities below the competitive level or both.1 set
14a firm's ability to raise the price of a good without losing all its sales.1 set
15the ability of a single economic actor (or small group of actors) to have substantial influence on market prices.. ex: if everyone in town needs water but there is only one well, the owner of the well is not subject to the competition with which the invisible hand normally keeps self-interest in check1 set
16the ability to set a price above the perfectly competitive level1 set
17results of 1) barriers to entry/exit, 2) economies of scale 3) price discrimination, 4) product differentiation1 set
18the ability to alter the market price of a good or service.1 set
19the ability to set the price in the marketplace to your advantage1 set
20the ability to set prices above cost1 set
21the ability of a firm to raise its price without losing all sales to rivals.1 set
22ability of a company to change prices and output1 set
23the ability of a firm to affect the price of its product1 set
24exists when a firm is able to sell its products above the existing competitive level or to reduce the costs of its primary and support activities below the competitive level, or both.1 set
25power that exists when the firm sells its product above competitive prices or when its costs are lower than those of its primary competitors1 set
26the ability of a compnay to change prives and output like a monopolist1 set
27the ability of a compony to change prices and output like a monopolist1 set
28ability of a single economic actor (or small group) to have a substantial influence on market prices (monopoly)1 set
29aaa1 set
30the ability of a company to control prices and total market output1 set
31ability of an agent to have substantial impact on prices1 set
32ability of a single economic actor (or small group of actors) to have a substantial influence on market prices1 set
33ability of a single person or small group to unduly influence market prices1 set
34the ability of a firm to influence the price of a product or the terms under which it is sold1 set
35ability of one person to unduly influence market prices1 set
36changes in prices and output1 set
37the ability of a single economic actor (or group of actors) to have a substantial influence on market prices1 set
38the ability of a single economic actor (or small groups of actors) to have a substantial influence on market prices1 set
39the ability of a firm to raise its price w.o losing all its customers to rival firms1 set
40a benefit that might arise from a horizontal merger when competition is too weak (or nonexistent) to prevent the merged company from raising prices in a market at will.1 set