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    Market Power: Mastering Market Power, Unraveling Economics for Informed Decisions
    Market Power: Mastering Market Power, Unraveling Economics for Informed Decisions
    Market Power: Mastering Market Power, Unraveling Economics for Informed Decisions
    Ebook286 pages3 hours

    Market Power: Mastering Market Power, Unraveling Economics for Informed Decisions

    By Fouad Sabry

    ()

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    About this ebook

    What is Market Power


    In economics, market power refers to the ability of a firm to influence the price at which it sells a product or service by manipulating either the supply or demand of the product or service to increase economic profit. In other words, market power occurs if a firm does not face a perfectly elastic demand curve and can set its price (P) above marginal cost (MC) without losing revenue. This indicates that the magnitude of market power is associated with the gap between P and MC at a firm's profit maximising level of output. The size of the gap, which encapsulates the firm's level of market dominance, is determined by the residual demand curve's form. A steeper reverse demand indicates higher earnings and more dominance in the market. Such propensities contradict perfectly competitive markets, where market participants have no market power, P = MC and firms earn zero economic profit. Market participants in perfectly competitive markets are consequently referred to as 'price takers', whereas market participants that exhibit market power are referred to as 'price makers' or 'price setters'.


    How you will benefit


    (I) Insights, and validations about the following topics:


    Chapter 1: Market power


    Chapter 2: Duopoly


    Chapter 3: Microeconomics


    Chapter 4: Monopoly


    Chapter 5: Monopolistic competition


    Chapter 6: Oligopoly


    Chapter 7: Perfect competition


    Chapter 8: Imperfect competition


    Chapter 9: Herfindahl-Hirschman index


    Chapter 10: Anti-competitive practices


    Chapter 11: Barriers to entry


    Chapter 12: Monopoly profit


    Chapter 13: Lerner index


    Chapter 14: Market structure


    Chapter 15: Market concentration


    Chapter 16: Competition (economics)


    Chapter 17: Edward Chamberlin


    Chapter 18: Dominance (economics)


    Chapter 19: Bilateral monopoly


    Chapter 20: Profit (economics)


    Chapter 21: Monopoly price


    (II) Answering the public top questions about market power.


    (III) Real world examples for the usage of market power in many fields.


    Who this book is for


    Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Market Power.

    LanguageEnglish
    PublisherOne Billion Knowledgeable
    Release dateJan 22, 2024
    Market Power: Mastering Market Power, Unraveling Economics for Informed Decisions

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