The Dominant Firm in Relation to Market Structure
The dominant firm is an unsolved puzzle of industrial organization. A sizable number of dominant firms in large industries manage to retain high market shares and high rates of profit, despite the absence of large technical economies of scale. This has baffled scientific analysis, and it has put antitrust and regulatory policies in awkward positions. It has sown discord among us, setting ‘Chicagoans’ against others in the field.
KeywordsMarket Share Market Power Market Structure Price Discrimination Market Position
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