Reducing prices below cost in order to eliminate competitors ...

[Diane]

Reducing prices below cost in order to eliminate competitors (with the intention of later raising prices to recoup all losses) is
 
  A) an empirical impossibility in a free society.
  B) called induced competition.
  C) called predatory price cutting.
  D) increasingly common in the American economy.

Question 2

The equilibrium price and quantity of a good under perfect competition are determined:
 
  A) by the intersection of the market demand and total revenue curves.
  B) by the intersection of the total revenue and total cost curves.
  C) by the intersection of the market demand and market supply curves.
  D) by the intersection of the market supply and total revenue curves.

[vickybb89]

Answer to Question 1

C

Answer to Question 2

C

[Diane]

Thanks for the timely response, appreciate it

[shewald78]

Excellent