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LIMIT PRICING: The strategic behavior process in which a firm with market control sets its price and output so that there is not enough demand left for another firm to enter the market and earn profits. The firm expands its output causing the price to fall, which discourages potential entrants to this market. This practice is most commonly undertaken by oligopoly firms seeking to expand their market shares and gain greater market control.
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AGGREGATE SUPPLY DECREASE, SHORT-RUN AGGREGATE MARKET A shock to the short-run aggregate market caused by a decrease in aggregate supply, resulting in and illustrated by a leftward shift of the short-run aggregate supply curve. A decrease in aggregate supply in the short-run aggregate market results in an increase in the price level and a decrease in real production. The level of real production resulting from the shock can be greater or less than full-employment real production.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time at an auction trying to buy either one of those "hang in there" kitty cat posters or a velvet painting of Elvis Presley. Be on the lookout for neighborhood pets, especially belligerent parrots.
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This isn't me! What am I?
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Mark Twain said "I wonder how much it would take to buy soap buble if there was only one in the world."
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"You are the only problem you will ever have and you are the only solution. Change is inevitable, personal growth is always a personal decision." -- Bob Proctor, Author and Speaker
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MGE
Minneapolis Grain Exchange
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