tobacco va Virginia 116 Virginia tobacco explained: characteristics, curing,

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In its 1927 International Harvester decision, which involved the interpretation of an antitrust consent decree, the Court suggested that a firm no longer had monopoly power when its market share was 64% and declining.[4] Building on that, Judge Hand famously concluded in the Aluminum case (1945) that a 33% market share was clearly not enough, a 64% share was doubtful, but that a 90% market share was sufficient for unlawful monopolization.[5] The Supreme Courts American Tobacco decision, a year later, endorsed Judge Hands conclusions but also made an important distinction between the power to raise prices and the power to exclude.[6] That decision involved three large tobacco companies (American, Liggett, and Reynolds)

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