Above Market Cost refers to a price or expense that is higher than the prevailing or average market rate for a particular product, service, or resource. It indicates a premium or additional amount that a buyer or consumer must pay, often due to factors such as scarcity, high demand, exclusivity, or unique features. Above Market Cost can also be associated with excessive markups or inflated prices set by sellers or providers, resulting in a higher financial burden for the purchaser. This term is commonly used in economics, business, and finance to describe the additional expenditure incurred when a good or service is priced above its market value.
Above market cost refers to a situation where a product or service is priced higher than the prevailing market rate. This can occur due to various reasons such as monopolistic practices, lack of competition, or collusion among suppliers. Above market cost can be considered illegal if it violates antitrust laws or consumer protection laws. Companies found guilty of charging above market cost may face fines, legal action, or other penalties. Consumers who have been affected by above market cost may be entitled to compensation or refunds.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 29th March 2024.
To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.
- Page URL:https://dlssolicitors.com/define/above-market-cost/
- Modern Language Association (MLA):Above Market Cost. dlssolicitors.com. DLS Solicitors. May 09 2024 https://dlssolicitors.com/define/above-market-cost/.
- Chicago Manual of Style (CMS):Above Market Cost. dlssolicitors.com. DLS Solicitors. https://dlssolicitors.com/define/above-market-cost/ (accessed: May 09 2024).
- American Psychological Association (APA):Above Market Cost. dlssolicitors.com. Retrieved May 09 2024, from dlssolicitors.com website: https://dlssolicitors.com/define/above-market-cost/
Our team of professionals are based in Alderley Edge, Cheshire. We offer clear, specialist legal advice in all matters relating to Family Law, Wills, Trusts, Probate, Lasting Power of Attorney and Court of Protection.
All author posts