When it says that having a price:
- higher than others is price gauging
- lower than others is predatory pricing
- same as the others is collusion
There you have it. Eliot posted a couple of graphs. That’s real science.
It’s got numbers! Wooohoooo!!!
This, without doubt. On the same note, another laughable claim is that of “advertising wars”.
http://anarchyinyourhead.com/2008/08/06/prosecuting-the-free-market/
The thing that bugged me the most was having a supply and demand chart for money, taking out the purchasing power of money and replacing it with interest rate. I thought that was stupid, and it is the thing that bugged me the most in economics class. When will the econ professors get the picture that this relationship only holds if the money goes directly to the lending institutions, and when will they finally understand what interest means.
I guess I am in a bad mood about the wrongness of the AP Economics test.
Pretty much anything having to do with antitrust and monopoly. Dominick T. Armentano is good on this.