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I guess so, but thats the problem with language that isnt specific enough. What I feel people are discussing and what I was referring too was more properly call
by wizardforhire 1y ago
I guess so, but thats the problem with language that isnt specific enough. What I feel people are discussing and what I was referring too was more properly called an illegal monopoly… technically having market domination is also a monopoly, but thats not a crime.
The Hypothetical Monopolist Test is a primary method used to define relevant markets in antitrust cases. It assesses whether a hypothetical monopolist could profitably impose a small but significant and non-transitory increase in price (SSNIP).
Steps in the Test
Market Definition: Identify the relevant product and geographic market.
Price Increase
Assessment: Determine if a hypothetical monopolist could raise prices without losing too many customers.
Iterative Process: If the price increase is profitable, the market is correctly defined. If not, the market definition is expanded to include substitutes.
To establish a monopolization claim, two main elements must be proven:
Possession of Monopoly Power: The firm must have significant and durable market power.
Willful Acquisition or Maintenance: The firm must have obtained or maintained this power through improper means, rather than through competition on the merits.