In economics and particularly in industrial organization, market power is the ability of a firm to profitably raise the market price of a good or service over marginal cost. In perfectly competitive markets, market participants have no market power. A firm with total market power can raise prices without losing any customers to competitors. Market participants that have market power are therefore sometimes referred to as "price makers" or "price setters", while those without are sometimes called "price takers". Significant market power occurs when prices exceed marginal cost and long run average cost, so the firm makes economic profits.
A firm with market power has the ability to individually affect either the total quantity or the prevailing price in the market. Price makers face a downward-sloping demand curve, such that price increases lead to a lower quantity demanded. The decrease in supply as a result of the exercise of market power creates an economic deadweight loss which is often viewed as socially undesirable. As a result, many countries have anti-trust or other legislation intended to limit the ability of firms to accrue market power. Such legislation often regulates mergers and sometimes introduces a judicial power to compel divestiture.
The concept of market power is explained in this microeconomics revision video.
#aleveleconomics #ibeconomics #MarketPower
WHAT IS MARKET POWER?
Market power is the ability of a business to set their prices above a level that would exist in a highly competitive market. Higher prices then allow a firm with market power to earn higher supernormal profits. Market power then allows firms to maintain their profits by using barriers to entry to successfully prevent the profitable entry of new firms. If only a few firms have considerable market power, then a market can be described as an oligopoly. In this situation, power is said to be highly concentrated.
This documentary will show you how Amazon uses its size and power to raise prices, for you, the consumer.
The documentary follows four sellers on Amazon, two in Europe, two in the US, and their journey to survive on the platform.
It begins with an explanation of Amazon's pricing policies and the complex way Amazon enforces them and then finishes with how Amazon monitors and copies its sellers' products.
Watch this foundational beginning section carefully and your mind will be blown later in the documentary when you see what goes on behind the scenes, when you click buy.
This is an extremely important documentary. Amazon responds to fair criticism and it is my hope, that with your support that we can change Amazon's policies.
So sellers can set their own prices.
And so you can pay les...
published: 17 Dec 2023
What is Market Power all about?
Market Power is creating a community of people interested in and excited about economics. We look at the power of markets and economics to shape our world so that you can understand choices and consequences, which will allow you to make meaningful change in your community and your personal life. In the words of Alfred Marshall: “The two great forming agencies of the world’s history have been the religious and the economic.”
http://www.craigpalsson.com
published: 28 Sep 2019
Market Power
Market Power
[5/29]
by openlectures
Now that we have equipped you with the necessary tools to look at the structure of a market, we translate those structural characteristics into market power.
--
^^^ SUBSCRIBE above for more quick lectures! ^^^
VISIT openlectures:
http://openlectures.org
ABOUT openlectures:
http://openlectures.org/team
FOLLOW openlectures:
FB - http://facebook.com/OpenLectures
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published: 11 Feb 2013
How to *Actually* Win the Nobel Prize in Economics
📰 This channel is supported by my free newsletter: https://marketpower.substack.com/p/market-power-newsletter
Every year, the Royal Swedish Academy of Sciences awards the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. This year, Daron Acemoglu, Simon Johnson, and James Robinson won. What does their prize tell us about the future of economics?
-----------------------------
📽️ Watch these next
✅ Economic History Is The BEST Field of Economics
https://youtu.be/5LI17LD7LWQ
✅ The Hidden Economics of the Gender Pay Gap
https://youtu.be/U-8OEfYlCnk
✅ This Book Will Change How You See American History
https://youtu.be/ZKs2PE_DVw8
-----------------------------
The Book of Mormon has changed my life, and I'd like to offer you a free copy: https://www.churchofjesuschri...
published: 14 Oct 2024
5.1 Market Power
published: 18 Nov 2018
Understanding Basics of the Power Market
Get an overview of the North American energy markets including how the power grid works, and managing supply and demand.
#cmegroup
#futures
#powermarket
#energy
Subscribe: https://www.youtube.com/subscription_center?add_user=cmegroup
CME Group: http://www.cmegroup.com
Follow us:
Twitter: http://twitter.com/CMEGroup
Facebook: http://www.facebook.com/CMEGroup
CME Group is the world's leading and most diverse derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.
published: 25 Sep 2017
Economist Roasts Harry Potter and the Sorcerer's Stone
📰 Better than the Daily Prophet: https://marketpower.substack.com/p/market-power-newsletter
-----------------------------
📽️ Watch these next
✅ The Harry Potter Finale Cost This Company $125,000
https://youtu.be/qdJErptsdDU
✅ The Truth About Harry Potter World Tickets
https://youtu.be/yhYtSeaR5T0
✅ The Author Changing the Economics of Book Publishing
https://youtu.be/AWRuCA_N0Ns
✅ Do THIS To Find Good Economics Books
https://youtu.be/W4ffkvzQexc
-----------------------------
03:25 When in doubt...
05:50 The Wizarding World
08:37 Wizarding Money
20:23 The Gringotts Monopoly
32:36 Ollivanders, Prices, and Income
39:07 Hogwarts Express
40:09 House Points
43:51 Dueling Contract
48:13 The Cost of Magic
-----------------------------
The Book of Mormon has changed my life, and I'd like to...
published: 20 Jul 2024
Stock market power 🔋#investing #stockmarket
published: 16 Nov 2024
What is Market Power?
Video made possible thanks to AI voice generator Eleven Labs, https://elevenlabs.io/?from=josephalexandernordqvistcantoral8044
The extent to which your company can influence the price of a product or service in the marketplace defines its market power.
This video complements our article "What is market power? Definition and meaning" at Market Business News: https://marketbusinessnews.com/financial-glossary/market-power-definition-meaning/
Join this channel to get access to perks:
https://www.youtube.com/channel/UCI8Xs2oPTMb9DkuYsEqCnnQ/join
The concept of market power is explained in this microeconomics revision video.
#aleveleconomics #ibeconomics #MarketPower
WHAT IS MARKET POWER?
Market pow...
The concept of market power is explained in this microeconomics revision video.
#aleveleconomics #ibeconomics #MarketPower
WHAT IS MARKET POWER?
Market power is the ability of a business to set their prices above a level that would exist in a highly competitive market. Higher prices then allow a firm with market power to earn higher supernormal profits. Market power then allows firms to maintain their profits by using barriers to entry to successfully prevent the profitable entry of new firms. If only a few firms have considerable market power, then a market can be described as an oligopoly. In this situation, power is said to be highly concentrated.
The concept of market power is explained in this microeconomics revision video.
#aleveleconomics #ibeconomics #MarketPower
WHAT IS MARKET POWER?
Market power is the ability of a business to set their prices above a level that would exist in a highly competitive market. Higher prices then allow a firm with market power to earn higher supernormal profits. Market power then allows firms to maintain their profits by using barriers to entry to successfully prevent the profitable entry of new firms. If only a few firms have considerable market power, then a market can be described as an oligopoly. In this situation, power is said to be highly concentrated.
This documentary will show you how Amazon uses its size and power to raise prices, for you, the consumer.
The documentary follows four sellers on Amazon, two i...
This documentary will show you how Amazon uses its size and power to raise prices, for you, the consumer.
The documentary follows four sellers on Amazon, two in Europe, two in the US, and their journey to survive on the platform.
It begins with an explanation of Amazon's pricing policies and the complex way Amazon enforces them and then finishes with how Amazon monitors and copies its sellers' products.
Watch this foundational beginning section carefully and your mind will be blown later in the documentary when you see what goes on behind the scenes, when you click buy.
This is an extremely important documentary. Amazon responds to fair criticism and it is my hope, that with your support that we can change Amazon's policies.
So sellers can set their own prices.
And so you can pay less when you shop online.
Timestamps
Amazon in Europe
1:56 How Amazon's pricing systems work
5:24 Does Amazon follow its own pricing rules?
9:26 Europe's investigations into Amazon's market power
14:00 What happens when you sell off-Amazon for less?
Amazon in the US
17:28 Amazon in the USA
20:15 The Brain Flakes
20:37 Calculating the revenues of sellers on Amazon
22:56 Is Amazon a Monopoly?
24:13 How Amazon uses its marketplace to subsidize its money-losing businesses
26:01 The ads on Amazon and how they drive up prices
27:00 How sellers are forced to use Amazon's other services
Amazon in Europe
28:50 Competing with Amazon to be seen in search
29:53 What data analysis says about Amazon following its own rules
32:07 European investigations into Amazon's conduct
33:57 Is it possible to sell online without Amazon?
35:20 How Europe curbed Amazon's pricing behavior
Amazon in the US
37:52 Does Amazon's Basics brand copy its sellers' products?
38:41 The Everyday Sling
40:27 Does Amazon use private data to decide what products to copy?
Amazon in Europe
44:46 Is Amazon a monopoly that should be broken up?
46:52 Credits
47:08 Do you have an Amazon Prime account?
I'd like to thank all who made this film possible.
A special thank you and respect goes out to the sellers who appeared. It takes a lot of guts and conviction to stand up to one of the world's most powerful companies.
Support their businesses!
Marcus Schoch & Alcube: https://alcube.de/ | Alcube's Amazon Store: https://www.amazon.de/-/en/stores/Alcube/page/CAEDD284-C4B4-499E-9460-54987C84AB9D?ref_=ast_bln
Lena Kreuzkamp & Juwedi: https://www.juwedi.de/ | Juwedi's Amazon Store: https://www.amazon.de/s?i=merchant-items&me=A2V7B6HZ8H3G4
Molson Hart & Viahart: https://viahart.com | Viahart's Amazon Store: https://www.amazon.com/stores/VIAHART/VIAHART/page/639D0C67-5F36-4248-BDED-6E12AA7A2F3B
Peter Dering & Peak Design: https://www.peakdesign.com/ | Peak Design's Amazon Store: https://www.amazon.com/stores/PeakDesign/PeakDesign/page/6D6EB34E-0964-4547-8335-8FA2E346F776
Thank you and enjoy!
This documentary will show you how Amazon uses its size and power to raise prices, for you, the consumer.
The documentary follows four sellers on Amazon, two in Europe, two in the US, and their journey to survive on the platform.
It begins with an explanation of Amazon's pricing policies and the complex way Amazon enforces them and then finishes with how Amazon monitors and copies its sellers' products.
Watch this foundational beginning section carefully and your mind will be blown later in the documentary when you see what goes on behind the scenes, when you click buy.
This is an extremely important documentary. Amazon responds to fair criticism and it is my hope, that with your support that we can change Amazon's policies.
So sellers can set their own prices.
And so you can pay less when you shop online.
Timestamps
Amazon in Europe
1:56 How Amazon's pricing systems work
5:24 Does Amazon follow its own pricing rules?
9:26 Europe's investigations into Amazon's market power
14:00 What happens when you sell off-Amazon for less?
Amazon in the US
17:28 Amazon in the USA
20:15 The Brain Flakes
20:37 Calculating the revenues of sellers on Amazon
22:56 Is Amazon a Monopoly?
24:13 How Amazon uses its marketplace to subsidize its money-losing businesses
26:01 The ads on Amazon and how they drive up prices
27:00 How sellers are forced to use Amazon's other services
Amazon in Europe
28:50 Competing with Amazon to be seen in search
29:53 What data analysis says about Amazon following its own rules
32:07 European investigations into Amazon's conduct
33:57 Is it possible to sell online without Amazon?
35:20 How Europe curbed Amazon's pricing behavior
Amazon in the US
37:52 Does Amazon's Basics brand copy its sellers' products?
38:41 The Everyday Sling
40:27 Does Amazon use private data to decide what products to copy?
Amazon in Europe
44:46 Is Amazon a monopoly that should be broken up?
46:52 Credits
47:08 Do you have an Amazon Prime account?
I'd like to thank all who made this film possible.
A special thank you and respect goes out to the sellers who appeared. It takes a lot of guts and conviction to stand up to one of the world's most powerful companies.
Support their businesses!
Marcus Schoch & Alcube: https://alcube.de/ | Alcube's Amazon Store: https://www.amazon.de/-/en/stores/Alcube/page/CAEDD284-C4B4-499E-9460-54987C84AB9D?ref_=ast_bln
Lena Kreuzkamp & Juwedi: https://www.juwedi.de/ | Juwedi's Amazon Store: https://www.amazon.de/s?i=merchant-items&me=A2V7B6HZ8H3G4
Molson Hart & Viahart: https://viahart.com | Viahart's Amazon Store: https://www.amazon.com/stores/VIAHART/VIAHART/page/639D0C67-5F36-4248-BDED-6E12AA7A2F3B
Peter Dering & Peak Design: https://www.peakdesign.com/ | Peak Design's Amazon Store: https://www.amazon.com/stores/PeakDesign/PeakDesign/page/6D6EB34E-0964-4547-8335-8FA2E346F776
Thank you and enjoy!
Market Power is creating a community of people interested in and excited about economics. We look at the power of markets and economics to shape our world so th...
Market Power is creating a community of people interested in and excited about economics. We look at the power of markets and economics to shape our world so that you can understand choices and consequences, which will allow you to make meaningful change in your community and your personal life. In the words of Alfred Marshall: “The two great forming agencies of the world’s history have been the religious and the economic.”
http://www.craigpalsson.com
Market Power is creating a community of people interested in and excited about economics. We look at the power of markets and economics to shape our world so that you can understand choices and consequences, which will allow you to make meaningful change in your community and your personal life. In the words of Alfred Marshall: “The two great forming agencies of the world’s history have been the religious and the economic.”
http://www.craigpalsson.com
Market Power
[5/29]
by openlectures
Now that we have equipped you with the necessary tools to look at the structure of a market, we translate those structural ...
Market Power
[5/29]
by openlectures
Now that we have equipped you with the necessary tools to look at the structure of a market, we translate those structural characteristics into market power.
--
^^^ SUBSCRIBE above for more quick lectures! ^^^
VISIT openlectures:
http://openlectures.org
ABOUT openlectures:
http://openlectures.org/team
FOLLOW openlectures:
FB - http://facebook.com/OpenLectures
Twitter - http://twitter.com/openlecturessg
Market Power
[5/29]
by openlectures
Now that we have equipped you with the necessary tools to look at the structure of a market, we translate those structural characteristics into market power.
--
^^^ SUBSCRIBE above for more quick lectures! ^^^
VISIT openlectures:
http://openlectures.org
ABOUT openlectures:
http://openlectures.org/team
FOLLOW openlectures:
FB - http://facebook.com/OpenLectures
Twitter - http://twitter.com/openlecturessg
📰 This channel is supported by my free newsletter: https://marketpower.substack.com/p/market-power-newsletter
Every year, the Royal Swedish Academy of Sciences...
📰 This channel is supported by my free newsletter: https://marketpower.substack.com/p/market-power-newsletter
Every year, the Royal Swedish Academy of Sciences awards the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. This year, Daron Acemoglu, Simon Johnson, and James Robinson won. What does their prize tell us about the future of economics?
-----------------------------
📽️ Watch these next
✅ Economic History Is The BEST Field of Economics
https://youtu.be/5LI17LD7LWQ
✅ The Hidden Economics of the Gender Pay Gap
https://youtu.be/U-8OEfYlCnk
✅ This Book Will Change How You See American History
https://youtu.be/ZKs2PE_DVw8
-----------------------------
The Book of Mormon has changed my life, and I'd like to offer you a free copy: https://www.churchofjesuschrist.org/comeuntochrist/requests/free-book-of-mormon
📰 This channel is supported by my free newsletter: https://marketpower.substack.com/p/market-power-newsletter
Every year, the Royal Swedish Academy of Sciences awards the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. This year, Daron Acemoglu, Simon Johnson, and James Robinson won. What does their prize tell us about the future of economics?
-----------------------------
📽️ Watch these next
✅ Economic History Is The BEST Field of Economics
https://youtu.be/5LI17LD7LWQ
✅ The Hidden Economics of the Gender Pay Gap
https://youtu.be/U-8OEfYlCnk
✅ This Book Will Change How You See American History
https://youtu.be/ZKs2PE_DVw8
-----------------------------
The Book of Mormon has changed my life, and I'd like to offer you a free copy: https://www.churchofjesuschrist.org/comeuntochrist/requests/free-book-of-mormon
Get an overview of the North American energy markets including how the power grid works, and managing supply and demand.
#cmegroup
#futures
#powermarket
#ene...
Get an overview of the North American energy markets including how the power grid works, and managing supply and demand.
#cmegroup
#futures
#powermarket
#energy
Subscribe: https://www.youtube.com/subscription_center?add_user=cmegroup
CME Group: http://www.cmegroup.com
Follow us:
Twitter: http://twitter.com/CMEGroup
Facebook: http://www.facebook.com/CMEGroup
CME Group is the world's leading and most diverse derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.
Get an overview of the North American energy markets including how the power grid works, and managing supply and demand.
#cmegroup
#futures
#powermarket
#energy
Subscribe: https://www.youtube.com/subscription_center?add_user=cmegroup
CME Group: http://www.cmegroup.com
Follow us:
Twitter: http://twitter.com/CMEGroup
Facebook: http://www.facebook.com/CMEGroup
CME Group is the world's leading and most diverse derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.
📰 Better than the Daily Prophet: https://marketpower.substack.com/p/market-power-newsletter
-----------------------------
📽️ Watch these next
✅ The Harry Pott...
📰 Better than the Daily Prophet: https://marketpower.substack.com/p/market-power-newsletter
-----------------------------
📽️ Watch these next
✅ The Harry Potter Finale Cost This Company $125,000
https://youtu.be/qdJErptsdDU
✅ The Truth About Harry Potter World Tickets
https://youtu.be/yhYtSeaR5T0
✅ The Author Changing the Economics of Book Publishing
https://youtu.be/AWRuCA_N0Ns
✅ Do THIS To Find Good Economics Books
https://youtu.be/W4ffkvzQexc
-----------------------------
03:25 When in doubt...
05:50 The Wizarding World
08:37 Wizarding Money
20:23 The Gringotts Monopoly
32:36 Ollivanders, Prices, and Income
39:07 Hogwarts Express
40:09 House Points
43:51 Dueling Contract
48:13 The Cost of Magic
-----------------------------
The Book of Mormon has changed my life, and I'd like to offer you a free copy: https://www.churchofjesuschrist.org/comeuntochrist/requests/free-book-of-mormon
📰 Better than the Daily Prophet: https://marketpower.substack.com/p/market-power-newsletter
-----------------------------
📽️ Watch these next
✅ The Harry Potter Finale Cost This Company $125,000
https://youtu.be/qdJErptsdDU
✅ The Truth About Harry Potter World Tickets
https://youtu.be/yhYtSeaR5T0
✅ The Author Changing the Economics of Book Publishing
https://youtu.be/AWRuCA_N0Ns
✅ Do THIS To Find Good Economics Books
https://youtu.be/W4ffkvzQexc
-----------------------------
03:25 When in doubt...
05:50 The Wizarding World
08:37 Wizarding Money
20:23 The Gringotts Monopoly
32:36 Ollivanders, Prices, and Income
39:07 Hogwarts Express
40:09 House Points
43:51 Dueling Contract
48:13 The Cost of Magic
-----------------------------
The Book of Mormon has changed my life, and I'd like to offer you a free copy: https://www.churchofjesuschrist.org/comeuntochrist/requests/free-book-of-mormon
Video made possible thanks to AI voice generator Eleven Labs, https://elevenlabs.io/?from=josephalexandernordqvistcantoral8044
The extent to which your company...
Video made possible thanks to AI voice generator Eleven Labs, https://elevenlabs.io/?from=josephalexandernordqvistcantoral8044
The extent to which your company can influence the price of a product or service in the marketplace defines its market power.
This video complements our article "What is market power? Definition and meaning" at Market Business News: https://marketbusinessnews.com/financial-glossary/market-power-definition-meaning/
Join this channel to get access to perks:
https://www.youtube.com/channel/UCI8Xs2oPTMb9DkuYsEqCnnQ/join
Video made possible thanks to AI voice generator Eleven Labs, https://elevenlabs.io/?from=josephalexandernordqvistcantoral8044
The extent to which your company can influence the price of a product or service in the marketplace defines its market power.
This video complements our article "What is market power? Definition and meaning" at Market Business News: https://marketbusinessnews.com/financial-glossary/market-power-definition-meaning/
Join this channel to get access to perks:
https://www.youtube.com/channel/UCI8Xs2oPTMb9DkuYsEqCnnQ/join
The concept of market power is explained in this microeconomics revision video.
#aleveleconomics #ibeconomics #MarketPower
WHAT IS MARKET POWER?
Market power is the ability of a business to set their prices above a level that would exist in a highly competitive market. Higher prices then allow a firm with market power to earn higher supernormal profits. Market power then allows firms to maintain their profits by using barriers to entry to successfully prevent the profitable entry of new firms. If only a few firms have considerable market power, then a market can be described as an oligopoly. In this situation, power is said to be highly concentrated.
This documentary will show you how Amazon uses its size and power to raise prices, for you, the consumer.
The documentary follows four sellers on Amazon, two in Europe, two in the US, and their journey to survive on the platform.
It begins with an explanation of Amazon's pricing policies and the complex way Amazon enforces them and then finishes with how Amazon monitors and copies its sellers' products.
Watch this foundational beginning section carefully and your mind will be blown later in the documentary when you see what goes on behind the scenes, when you click buy.
This is an extremely important documentary. Amazon responds to fair criticism and it is my hope, that with your support that we can change Amazon's policies.
So sellers can set their own prices.
And so you can pay less when you shop online.
Timestamps
Amazon in Europe
1:56 How Amazon's pricing systems work
5:24 Does Amazon follow its own pricing rules?
9:26 Europe's investigations into Amazon's market power
14:00 What happens when you sell off-Amazon for less?
Amazon in the US
17:28 Amazon in the USA
20:15 The Brain Flakes
20:37 Calculating the revenues of sellers on Amazon
22:56 Is Amazon a Monopoly?
24:13 How Amazon uses its marketplace to subsidize its money-losing businesses
26:01 The ads on Amazon and how they drive up prices
27:00 How sellers are forced to use Amazon's other services
Amazon in Europe
28:50 Competing with Amazon to be seen in search
29:53 What data analysis says about Amazon following its own rules
32:07 European investigations into Amazon's conduct
33:57 Is it possible to sell online without Amazon?
35:20 How Europe curbed Amazon's pricing behavior
Amazon in the US
37:52 Does Amazon's Basics brand copy its sellers' products?
38:41 The Everyday Sling
40:27 Does Amazon use private data to decide what products to copy?
Amazon in Europe
44:46 Is Amazon a monopoly that should be broken up?
46:52 Credits
47:08 Do you have an Amazon Prime account?
I'd like to thank all who made this film possible.
A special thank you and respect goes out to the sellers who appeared. It takes a lot of guts and conviction to stand up to one of the world's most powerful companies.
Support their businesses!
Marcus Schoch & Alcube: https://alcube.de/ | Alcube's Amazon Store: https://www.amazon.de/-/en/stores/Alcube/page/CAEDD284-C4B4-499E-9460-54987C84AB9D?ref_=ast_bln
Lena Kreuzkamp & Juwedi: https://www.juwedi.de/ | Juwedi's Amazon Store: https://www.amazon.de/s?i=merchant-items&me=A2V7B6HZ8H3G4
Molson Hart & Viahart: https://viahart.com | Viahart's Amazon Store: https://www.amazon.com/stores/VIAHART/VIAHART/page/639D0C67-5F36-4248-BDED-6E12AA7A2F3B
Peter Dering & Peak Design: https://www.peakdesign.com/ | Peak Design's Amazon Store: https://www.amazon.com/stores/PeakDesign/PeakDesign/page/6D6EB34E-0964-4547-8335-8FA2E346F776
Thank you and enjoy!
Market Power is creating a community of people interested in and excited about economics. We look at the power of markets and economics to shape our world so that you can understand choices and consequences, which will allow you to make meaningful change in your community and your personal life. In the words of Alfred Marshall: “The two great forming agencies of the world’s history have been the religious and the economic.”
http://www.craigpalsson.com
Market Power
[5/29]
by openlectures
Now that we have equipped you with the necessary tools to look at the structure of a market, we translate those structural characteristics into market power.
--
^^^ SUBSCRIBE above for more quick lectures! ^^^
VISIT openlectures:
http://openlectures.org
ABOUT openlectures:
http://openlectures.org/team
FOLLOW openlectures:
FB - http://facebook.com/OpenLectures
Twitter - http://twitter.com/openlecturessg
📰 This channel is supported by my free newsletter: https://marketpower.substack.com/p/market-power-newsletter
Every year, the Royal Swedish Academy of Sciences awards the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. This year, Daron Acemoglu, Simon Johnson, and James Robinson won. What does their prize tell us about the future of economics?
-----------------------------
📽️ Watch these next
✅ Economic History Is The BEST Field of Economics
https://youtu.be/5LI17LD7LWQ
✅ The Hidden Economics of the Gender Pay Gap
https://youtu.be/U-8OEfYlCnk
✅ This Book Will Change How You See American History
https://youtu.be/ZKs2PE_DVw8
-----------------------------
The Book of Mormon has changed my life, and I'd like to offer you a free copy: https://www.churchofjesuschrist.org/comeuntochrist/requests/free-book-of-mormon
Get an overview of the North American energy markets including how the power grid works, and managing supply and demand.
#cmegroup
#futures
#powermarket
#energy
Subscribe: https://www.youtube.com/subscription_center?add_user=cmegroup
CME Group: http://www.cmegroup.com
Follow us:
Twitter: http://twitter.com/CMEGroup
Facebook: http://www.facebook.com/CMEGroup
CME Group is the world's leading and most diverse derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.
📰 Better than the Daily Prophet: https://marketpower.substack.com/p/market-power-newsletter
-----------------------------
📽️ Watch these next
✅ The Harry Potter Finale Cost This Company $125,000
https://youtu.be/qdJErptsdDU
✅ The Truth About Harry Potter World Tickets
https://youtu.be/yhYtSeaR5T0
✅ The Author Changing the Economics of Book Publishing
https://youtu.be/AWRuCA_N0Ns
✅ Do THIS To Find Good Economics Books
https://youtu.be/W4ffkvzQexc
-----------------------------
03:25 When in doubt...
05:50 The Wizarding World
08:37 Wizarding Money
20:23 The Gringotts Monopoly
32:36 Ollivanders, Prices, and Income
39:07 Hogwarts Express
40:09 House Points
43:51 Dueling Contract
48:13 The Cost of Magic
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The extent to which your company can influence the price of a product or service in the marketplace defines its market power.
This video complements our article "What is market power? Definition and meaning" at Market Business News: https://marketbusinessnews.com/financial-glossary/market-power-definition-meaning/
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In economics and particularly in industrial organization, market power is the ability of a firm to profitably raise the market price of a good or service over marginal cost. In perfectly competitive markets, market participants have no market power. A firm with total market power can raise prices without losing any customers to competitors. Market participants that have market power are therefore sometimes referred to as "price makers" or "price setters", while those without are sometimes called "price takers". Significant market power occurs when prices exceed marginal cost and long run average cost, so the firm makes economic profits.
A firm with market power has the ability to individually affect either the total quantity or the prevailing price in the market. Price makers face a downward-sloping demand curve, such that price increases lead to a lower quantity demanded. The decrease in supply as a result of the exercise of market power creates an economic deadweight loss which is often viewed as socially undesirable. As a result, many countries have anti-trust or other legislation intended to limit the ability of firms to accrue market power. Such legislation often regulates mergers and sometimes introduces a judicial power to compel divestiture.
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