A firm announces that it will refund the difference between its price and any price of a competitor that is lower. This is an example of:
A. predatory pricing.
B. tying contracting.
C. marginal cost pricing.
D. a low-price guarantee.
Answer: D
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A closed economy
A) can save either by building up its capital stock or by acquiring foreign wealth. B) can save only by building up its capital stock. C) can save only by acquiring foreign wealth. D) cannot save either by building up its capital stock or by acquiring foreign wealth. E) can save by avoiding excessive imports.
A worker's accumulated investment in education, training, experience, and health is called:
a. derived labor demand. b. collective entrepreneurship. c. seniority. d. human capital.
Other things constant, a decrease in resource prices will lead to
a. reduced profits and a reduction in short-run aggregate supply. b. increased profits and a reduction in short-run aggregate supply. c. reduced profits and an increase in short-run aggregate supply. d. increased profits and an increase in short-run aggregate supply.
Opportunity costs are another name for marginal costs.
Answer the following statement true (T) or false (F)