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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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EXPENDITURES MULTIPLIER A measure of the change in aggregate production caused by changes in an autonomous expenditure. The expenditures multiplier is the inverse of one minus the slope of the aggregate expenditures line. The simple expenditures multiplier includes ONLY induced consumption. More complex expenditures multipliers include other induced components. Two related multipliers are the tax multiplier, which measures the change in aggregate production caused by changes in taxes, and the balanced-budget multiplier which measures the change in aggregate production from equal changes in both taxes and government purchases.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time driving to a factory outlet wanting to buy either a flower arrangement for that special day for your mother or a New York Yankees baseball cap. Be on the lookout for malfunctioning pocket calculators.
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The 1909 Lincoln penny was the first U.S. coin with the likeness of a U.S. President.
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"Whenever an individual or a business decides that success has been attained, progress stops. " -- Thomas Watson Jr., IBM executive
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SPO
Strongly Pareto Optimal
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