P1: Antitrust law on abusing monopoly power; 1) possess monopoly power 2) exclude competition using monopoly power.
P2: Availability of the substitute products determines the price / how much share the industry has determines how high the price could be set without losing customers
P3: Supra competitive price not necessarily abuse of monopoly power / low price charging and getting the great market share isn’t abuse / harming customers’ welfare is the criterion for the abuse.
P4: Excluding competition or using leverage is the abuse / example for computer system; tying arrangement
P5: Primary Purpose of the antitrust law: promoting customers’ welfare.
Overall: Abuse of monopoly power in violation of antitrust law, how price change happens, what is not the abusing the monopoly power and what is / focus on the abuse of monopoly power.
While I was doing this passage, I couldn't help but thinking of Monopoly, the board game, but that old gentleman on the cover was giving me a very sinister smile.. why..?
