Market power - Revision history

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	<onlyinclude>A firm has '''market power''' when it is able to affect the [[supply]] or [[demand]] of a [[market]] to force a change in the [[price]]. The firm that has the market power has the most influence over the market.</onlyinclude><ref>OECD. "Market Power" [Online], Available: https://stats.oecd.org/glossary/detail.asp?ID=3256, March 16, 2002 [June 28, 206]</ref> [[Free market]]s seek to prevent this occurrence by promoting competition in markets. Competition limits the influence a firm has on a market because it cannot acct freely without other firms reacting.		<onlyinclude>A firm has '''market power''' when it is able to affect the [[supply]] or [[demand]] of a [[market]] to force a change in the [[price]]. The firm that has the market power has the most influence over the market.</onlyinclude><ref>OECD. "Market Power" [Online], Available: https://stats.oecd.org/glossary/detail.asp?ID=3256, March 16, 2002 [June 28, 206]</ref> [[Free market]]s seek to prevent this occurrence by promoting competition in markets. Competition limits the influence a firm has on a market because it cannot acct freely without other firms reacting.

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	==References==		==References==
	{{reflist}}		{{reflist}}
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	<onlyinclude>A firm has '''market power''' when it is able to affect the [[supply]] or [[demand]] of a [[market]] to force a change in the [[price]]. The firm that has the market power has the most influence over the market.</onlyinclude><ref>OECD. "Market Power" [Online], Available: https://stats.oecd.org/glossary/detail.asp?ID=3256, March 16, 2002 [June 28, 206]</ref> [[Free market]]s seek to prevent this occurrence by promoting competition in markets. Competition limits the influence a firm has on a market because it cannot acct freely without other firms reacting.		<onlyinclude>A firm has '''market power''' when it is able to affect the [[supply]] or [[demand]] of a [[market]] to force a change in the [[price]]. The firm that has the market power has the most influence over the market.</onlyinclude><ref>OECD. "Market Power" [Online], Available: https://stats.oecd.org/glossary/detail.asp?ID=3256, March 16, 2002 [June 28, 206]</ref> [[Free market]]s seek to prevent this occurrence by promoting competition in markets. Competition limits the influence a firm has on a market because it cannot acct freely without other firms reacting.

	==Market Structures With Market Power==		==Market Structures With Market Power==
	[[Monopoly \| Monopolies]], [[oligopoly \| oligopolies]], [[monopsony \| monopsonies]] and [[oligopoly \| oligopolies]] have market power because they care able to affect he the supply or demand of a market. A monopoly or oligopoly can restrict the supply in a market to force an increase in the price of a good. Alternatively, a monopsony or oligopsony can reduce the demand to force a decrease in the price of a good. Because these market structures are able to influence the price in a way that is favorable to them they are called '''price makers'''.<ref>~~Investopedia.~~ "~~Market Power.~~" ~~[Online]~~, ~~Available: http://www~~.~~investopedia.com/terms/m/market-power.asp?layout=infini&v=5A&orig=1&adtest=5A~~[~~June 28~~, ~~2016~~].</ref>		[[Monopoly \| Monopolies]], [[oligopoly \| oligopolies]], [[monopsony \| monopsonies]] and [[oligopoly \| oligopolies]] have market power because they care able to affect he the supply or demand of a market. A monopoly or oligopoly can restrict the supply in a market to force an increase in the price of a good. Alternatively, a monopsony or oligopsony can reduce the demand to force a decrease in the price of a good. Because these market structures are able to influence the price in a way that is favorable to them they are called '''price makers'''.<ref name=Ox_econ>"A Dictionary of Economics" published Oxford University Press, 2013. Edited by John Black, Nigar Hashimzade, and Gareth Myles Online version accessed [August 17th, 2017].</ref>

	===Beneficial Market Power===		===Beneficial Market Power===

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Jmdonev at 22:40, 3 August 2016

2016-08-03T22:40:33Z

New page

[[Category:Done 2016-04-30]]
<onlyinclude>A firm has '''market power''' when it is able to affect the [[supply]] or [[demand]] of a [[market]] to force a change in the [[price]]. The firm that has the market power has the most influence over the market.</onlyinclude><ref>OECD. "Market Power" [Online], Available: https://stats.oecd.org/glossary/detail.asp?ID=3256, March 16, 2002 [June 28, 206]</ref> [[Free market]]s seek to prevent this occurrence by promoting competition in markets. Competition limits the influence a firm has on a market because it cannot acct freely without other firms reacting.

==Market Structures With Market Power==
[[Monopoly | Monopolies]], [[oligopoly | oligopolies]], [[monopsony | monopsonies]] and [[oligopoly | oligopolies]] have market power because they care able to affect he the supply or demand of a market. A monopoly or oligopoly can restrict the supply in a market to force an increase in the price of a good. Alternatively, a monopsony or oligopsony can reduce the demand to force a decrease in the price of a good. Because these market structures are able to influence the price in a way that is favorable to them they are called '''price makers'''.<ref>Investopedia. "Market Power." [Online], Available: http://www.investopedia.com/terms/m/market-power.asp?layout=infini&v=5A&orig=1&adtest=5A[June 28, 2016].</ref>

===Beneficial Market Power===
A firm or firms having market power is not always negative. While a firm having market power creates an inefficient market due to the [[deadweight loss]], it can be a positive outcome for some markets. In the case of [[monopoly | natural monopolies]], a utility company can over-supply the market which keeps prices low. This also ensures the stability of supply to protect against shocks that would normally produce a shortage. this ensures that people serviced by the utility (usually a city) have reliable, low-cost utilities.

==See Also==
*[[Monopoly]]
*[[Oligopoly]]
*[[Monopsony]]
*[[Oligopoly]]
*[[Deadweight loss]]
*[[Market]]
*[[Supply]]
*[[Demand]]

==References==
{{reflist}}