by 21st Century Competition | May 8, 2014
Costs born by a firm of producing an additional unit of output. Marginal costs are a function of variable costs only, since fixed costs do not vary with output. Source: Glossary of terms used in EU competition policy, Antitrust and control of concentrations, European...
by 21st Century Competition | May 8, 2014
Strength of a firm in a particular market. In basic economic terms, market power is the ability of firms to price above marginal cost and for this to be profitable. In competition analysis, market power is determined with the help of a structural analysis of the...
by 21st Century Competition | May 8, 2014
Measure for the relative size of a firm in an industry or market, in terms of the proportion of total output, sales or capacity it accounts for. In addition to profits, one of the frequently cited business objec- tives of firms is to increase market share. This is...
