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Monopoly Power
The ability of a single seller in a market to control prices and exclude competition.
Sherman Act
A landmark federal statute in the antitrust law of the United States, passed in 1890, which prohibits certain business activities that federal government regulators deem to be anti-competitive.
Alcoa Case
A 1945 case in which the courts ruled that the possession of monopoly power, no matter how reasonably that power had been used, was a violation of the antitrust laws; temporarily overturned the rule of reason applied in the U.S. Steel case.
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