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Prices in a market are generally set by the highest bidder and/or the cheapest provider. Imagine four apple juice providers. It costs each of them $1 to produce one gallon of apple juice. To make a living, each charges an additional 50 cents and sells it for $1.50. Another provider enters the market, doesn't understand his own costs, and sells for 90 cents. Everybody else has to compete, and they all go out of business.
Another form is when the fifth provider understands his costs perfectly but charges 90 cents anyway because he is confident that he can outlast his competitors. Once they go out of business, the demand is still high, he undersupplies the market and raises his price up $2.50/gallon where the diehard apple juice fans are still willing to pay.
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What methods did railroads use to limit competition?
"Cut-throat competition, also known as destructive or ruinous competition, refers to situations when competition results in prices that do not chronically or for extended periods of time cover costs of production, particularly fixed costs. This may arise in secularly declining or "sick" industries with high levels of excess capacity or where frequent cyclical or random demand downturns are experienced."sources: wikipediaand my textbook...
Where in England is Goodrich castle?
is a now ruinous Norman medieval castle situated to the north of the village of Goodrich in Herefordshire, England
How was the Versailles Treaty of 1919 revised in the time before the reign of Hitler and during?
The ruinous reparation payments were suspended in 1931 and Hitler cancelled the military limits unilaterally in 1935.
What cause the prejudice against immigrants?
competition for jobs
When a industry or business has no competition?
A monopoly is an industry or business having no competition.
Federal regulatory agency often used by rail companies to stabilize the industry and prevent ruinous competition?
Federal Comerce Commission
When was No Ruinous Feud created?
No Ruinous Feud was created in 1973-01.
How do you use the word ruinous in a sentence?
The city had suffered a ruinous series of natural disasters. The couple's lifestyle resulted in ruinous personal debt, and eventual bankruptcy.
Can you give you a sentence using the word ruinous?
The girl was trying be ruinous to the other students.
What is the meaning of ruinous?
Causing, or tending to cause, ruin; destructive; baneful; pernicious; as, a ruinous project., Characterized by ruin; ruined; dilapidated; as, an edifice, bridge, or wall in a ruinous state., Composed of, or consisting in, ruins.
What is the root word of ruinous?
ruin
Federal agency originally intended to regulate railroads that was often used by rail companies to stabilize the industry and prevent ruinous competition?
I'm pretty sure it's the interstate commerce commission "ICC"
What methods did railroads use to limit competition?
"Cut-throat competition, also known as destructive or ruinous competition, refers to situations when competition results in prices that do not chronically or for extended periods of time cover costs of production, particularly fixed costs. This may arise in secularly declining or "sick" industries with high levels of excess capacity or where frequent cyclical or random demand downturns are experienced."sources: wikipediaand my textbook...
How many syllable in the word ruinous?
3
What Hunger Games competition is it?
the competition is the 74th annual if that is what you mean
What is the name of a gift proving ruinous to the recipient?
White elephant
What is the meaning of dooms day?
Dooms day mean day of ruins or destruction or disasters.Doom means:Inevitable destruction or ruin.Fate, especially a tragic or ruinous one.Judgment Day.
