<p>In competition policy (part of microeconomics), market power is often defined as the ability of a firm to raise and maintain prices above the levels that would prevail under competitive conditions (with obvious adjustments if the market power is held by a buyer).  Having market power does not necessarily mean it is used or abused, just that it can be</p>

<p>See for example:</p>

<ul>
<li><a href="https://stats.oecd.org/glossary/detail.asp?ID=3256" rel="nofollow noreferrer">https://stats.oecd.org/glossary/detail.asp?ID=3256</a></li>
<li><a href="https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/284400/oft415.pdf" rel="nofollow noreferrer">https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/284400/oft415.pdf</a></li>
</ul>

CC BY-SA 4.0
2018-06-22T20:51:58.077Z
2018-06-22T20:51:58.077Z
Henry
<p>What does the term <strong>Market Power</strong> mean in microeconomic theory</p>

CC BY-SA 4.0
2018-06-22T17:51:04.220Z
Could you make please make your question more clear? Googling the term gave several definitions that seem fine to me. If you have trouble understanding a definition let us know which part confuses you.
Giskard
CC BY-SA 4.0
2018-06-23T17:15:49.907Z
I downvoted this because there is no (correctly phrased) question (one that uses proper English), and there is a lack of evidence of what research @Sanjay has done in order to solve this question.
ahorn
<microeconomics><game-theory><academic-graduate><education-economics>
Market Power in microeconomic theory
Sanjay
# Market Power in microeconomic theory

(Asked by: username_0 on 2018-06-22)

What does the term **Market Power** mean in microeconomic theory

**Tags:** microeconomics, game-theory, academic-graduate, education-economics

> **Comments:**
> **username_1**: Could you make please make your question more clear? Googling the term gave several definitions that seem fine to me. If you have trouble understanding a definition let us know which part confuses you.  
> **username_2**: I downvoted this because there is no (correctly phrased) question (one that uses proper English), and there is a lack of evidence of what research @username_0 has done in order to solve this question.  

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## 1 answers

### Answer by username_3 on 2018-06-22. Score: 3 | Accepted answer

In competition policy (part of microeconomics), market power is often defined as the ability of a firm to raise and maintain prices above the levels that would prevail under competitive conditions (with obvious adjustments if the market power is held by a buyer). Having market power does not necessarily mean it is used or abused, just that it can be

See for example:

* <https://stats.oecd.org/glossary/detail.asp?ID=3256>
* <https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/284400/oft415.pdf>


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