Cite as: 504 U. S. 451 (1992)
Opinion of the Court
nomically senseless, no reasonable jury could find in its favor, and summary judgment should be granted.
Kodak, then, bears a substantial burden in showing that it is entitled to summary judgment. It must show that despite evidence of increased prices and excluded competition, an inference of market power is unreasonable. To determine whether Kodak has met that burden, we must unravel the factual assumptions underlying its proposed rule that lack of power in the equipment market necessarily precludes power in the aftermarkets.
The extent to which one market prevents exploitation of another market depends on the extent to which consumers will change their consumption of one product in response to a price change in another, i. e., the "cross-elasticity of demand." See Du Pont, 351 U. S., at 400; P. Areeda & L. Kaplow, Antitrust Analysis ¶ 342(c) (4th ed. 1988).15 Ko-Co. of New York, Inc. v. Siemens Medical Systems, Inc., 879 F. 2d 1005, 1012 (CA2 1989) ("[O]nly reasonable inferences can be drawn from the evidence in favor of the nonmoving party") (emphasis in original); Arnold Pontiac-GMC, Inc. v. Budd Baer, Inc., 826 F. 2d 1335, 1339 (CA3 1987) (Matsushita directs us " 'to consider whether the inference of conspiracy is reasonable' "); Instructional Systems Development Corp. v. Aetna Casualty & Surety Co., 817 F. 2d 639, 646 (CA10 1987) (summary judgment not appropriate under Matsushita when defendants "could reasonably have been economically motivated").
15 What constrains the defendant's ability to raise prices in the service market is "the elasticity of demand faced by the defendant—the degree to which its sales fall . . . as its price rises." Areeda & Kaplow ¶ 342(c), p. 576.
Courts usually have considered the relationship between price in one
market and demand in another in defining the relevant market. Because market power is often inferred from market share, market definition generally determines the result of the case. Pitofsky, New Definitions of Relevant Market and the Assault on Antitrust, 90 Colum. L. Rev. 1805, 1806- 1813 (1990). Kodak chose to focus on market power directly rather than arguing that the relationship between equipment and service and parts is such that the three should be included in the same market definition. Whether considered in the conceptual category of "market definition" or "market power," the ultimate inquiry is the same—whether competition
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