[Am-info] What is a Monopoly?

[Mitch Stone]

http://business-law.freeadvice.com/trade_regulation/monopoly_power.htm

A monopoly power is defined as the ability of a business to control a 
price within its relevant product market or its geographic market or to 
exclude a competitor from doing business within its relevant product 
market or geographic market. It is only necessary to prove the business 
had the "power" to raise prices or exclude competitors. The plaintiff 
does not need to prove that prices were actually raised or that 
competitors were actually excluded from the market.

Today, a general definition of a monopoly is where nearly all of one 
product type or service is owned by one person or group of people 
within a community or area. Thereby, the sole control of this product 
or service is given to one party to the elimination of all others 
within the marketplace

On Wednesday, November 20, 2002, at 05:16 AM, John Poltorak wrote:

>
> Is there a legal or economic definition of a Monopoly?
>
> I thought it might be something like controlling 50% of a market, but
> can't find anything definitive...
>