Difference between revisions of "Market Power"
From Critiques Of Libertarianism
| Line 2: | Line 2: | ||
[[Category:Economics 101]] | [[Category:Economics 101]] | ||
[[Category:Libertarian Blind Spots]] | [[Category:Libertarian Blind Spots]] | ||
| + | [[Category:Market Failure]] | ||
{{DES | des = In a market exchange, there is producer surplus and consumer surplus. Market power is a [[Market Failure|market failure]] that occurs when producers can raise prices above the marginal costs to capture more of the surplus. Usually through monopoly, oligopoly or other bottleneck techniques. Libertarians often deny the existence of market power.| show=}} | {{DES | des = In a market exchange, there is producer surplus and consumer surplus. Market power is a [[Market Failure|market failure]] that occurs when producers can raise prices above the marginal costs to capture more of the surplus. Usually through monopoly, oligopoly or other bottleneck techniques. Libertarians often deny the existence of market power.| show=}} | ||
