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I don't think you quite understand. The person you are responding to basically quoted the definition of a monopoly, as according to the opinions of the US gove
by stale2002 6y ago
I don't think you quite understand.
The person you are responding to basically quoted the definition of a monopoly, as according to the opinions of the US government.
If changing prices does not change demand for your product, then by definition, according to the US government, you have significant market power (IE, you have a monopoly. The definition of a monopoly is merely having significant market power, according to anti-trust law)
That is the definition that judges and the government use for market power.
- scarface74 6y agoAs usual, it just takes a little observation to see how non sensical this interpretation is. Do you really think that every company that can raise its prices is automatically defined as a monopoly? What next? Nike has a “monopoly” on sneakers because it can raise its prices on Air Jordan’s and people still buy them? Should Apple also be regulated as a monopoly because it raised its prices on Mac Pros and people still bought them? Could it possibly be that a bunch of posters on HN don’t know as much about the law as ... a real judge who didn’t agree with similar arguments.