A 2017 paper by Jan De Loecker (“LEW-ker”) and Jan Eeckhout (“AY-kowt”) connected the increase in this property to decreasing labor force participation and labor flow. Next closest substitutes are added to a hypothetical market until a firm has this property in the SSNIP test. “Incentive schemes” driven by this property were analyzed by Jean Tirole, who won the 2014 Nobel in Economics for his research on regulation and this property. The negative reciprocal of the price elasticity of demand, which is known as the (*) Lerner index, quantifies this property. (10[1])Firms with this property (-5[1])can successfully engage in predatory pricing. (-5[1])Firms that have low amounts of this property are known as “price-takers,” while firms high in this property, such as monopolies, are “price-setters.” For 10 points, name this (-5[1])measure of a firm’s ability to cut back on total output and raise prices in a market. ■END■ (10[4]0[2])