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ANTIDUMPING DUTY: A tariff levied by an imported country (presumably) being the target of foreign dumping. Since dumping implies selling a good to a foreign country at a price below production cost, the antidumping duty is intended to offset the 'unfair' advantage that the foreign seller obtains by selling below cost. The antidumping duty raises the domestic price of the good to the level that the foreign producer would charged if true costs were considered.
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MARKET EQUILIBRIUM The state of equilibrium that exists when the opposing market forces of demand and supply achieve a balance with no inherent tendency for change. Once achieved, a market equilibrium persists unless or until it is disrupted by an outside force, especially the demand and supply determinants. A market equilibrium is indicated by equilibrium price and equilibrium quantity.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time wandering around the downtown area trying to buy either blue cotton balls or a genuine down-filled pillow. Be on the lookout for small children selling products door-to-door.
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This isn't me! What am I?
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The average bank teller loses about $250 every year.
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"Everyone is bound to bear patiently the results of his own example. " -- Phaedrus, Philosopher
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JPE
Journal of Political Economy
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