abuse of market power
Abuse of market power occurs when a business with significant control over a market engages in unfair practices to maintain or enhance its dominance, harming competition and consumers. This can include actions like setting excessively high prices, limiting product availability, or engaging in predatory pricing to drive competitors out of business. Such behavior undermines fair competition and can lead to reduced choices, higher prices, and less innovation for consumers. Regulatory authorities monitor and address these practices to promote a healthy and competitive market environment.
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Abuse of market power occurs when a dominant company uses its position to engage in unfair practices that harm competition or consumers. This can include actions like setting excessively high prices, limiting production to reduce supply, or using tactics to eliminate smaller competitors. Such behavior can stifle innovation and reduce choices for consumers. Regulatory bodies often monitor and address these practices to ensure a fair market, promoting healthy competition and protecting consumer interests. Essentially, it's about ensuring that no company takes unfair advantage of its size and influence.