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Author Question: What does the term undercutting refer to? What will be an ideal ... (Read 40 times)

dmcintosh

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on: Jun 29, 2018
What does the term undercutting refer to?
 
  What will be an ideal response?

Question 2

At a price of 4 in the above figure
 
  A) the equilibrium quantity is 400 units.
  B) there is a surplus of 200 units.
  C) the quantity supplied is 400 units.
  D) there is a shortage of 200 units.


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elyse44

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Reply #1 on: Jun 29, 2018
Answer to Question 1

Undercutting refers to the practice of charging a price slightly lower than that charged by rival firms. This usually occurs in an oligopoly with homogeneous products.

Answer to Question 2

D


dmcintosh

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

connor417

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Reply 3 on: Yesterday
Excellent

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