Monopoly
From Reboil
Monopoly is a market condition in which a single entity determines the terms and conditions of a majority of all sales in a market. This allows the entity to force buyers to purchase goods at prices higher than if buyers had the option to purchase from competitors.
Monopoly conditions are often reached by regulatory capture or market PvP in poorly regulated markets.
While monopoly is dominance of selling power (i.e. forcing buyers to buy at higher prices), a monopsony is dominance of buying power (i.e forcing suppliers to sell at lower prices)
Stats
History
- 2009-03-11: The USDOJ withdrew a report on breaking up monopolies via the Sherman Anti-trust Act (Competition And Monopoly: Single-Firm Conduct Under Section 2 Of The Sherman Act)[1].
See also
External links
References
- ↑
“Justice Department Withdraws Report on Antitrust Monopoly Law”.
(2009-03-11).
USDOJ.
Accessed 2024-10-28.
“ WASHINGTON — Christine A. Varney, Assistant Attorney General in charge of the Department’s Antitrust Division, today announced that the Department is withdrawing, effective immediately, a report relating to monopolization offenses under the antitrust laws that was issued in September 2008. As of today, the Section 2 report will no longer be Department of Justice policy. Consumers, businesses, courts and antitrust practitioners should not rely on it as Department of Justice antitrust enforcement policy.
The report, "Competition and Monopoly: Single-Firm Conduct Under Section 2 of the Sherman Act," raised too many hurdles to government antitrust enforcement and favored extreme caution and the development of safe harbors for certain conduct within reach of Section 2, Varney said. Varney announced the withdrawal of the report today at a speech at the Center for American Progress.
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