Hypothetical monopolist test

{
  "id": "MLC-T-LAW-002488",
  "term": "Hypothetical monopolist test",
  "field": "Law",
  "definition": "An economic tool used in antitrust analysis to define the relevant market in which a merger or business practice operates. It asks whether a hypothetical monopolist, controlling all products within a proposed market, could profitably impose a small but permanent increase in price. If consumers would switch to products outside the proposed market, then the market definition is too narrow and must be expanded.",
  "url": "https://mlchart.com/terminology/law/hypothetical-monopolist-test/"
}