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Simple English definitions for legal terms

long-run incremental cost

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A quick definition of long-run incremental cost:

Long-run incremental cost is a way to figure out if a company is selling a product at a price that is too low to drive competitors out of business. It looks at all the costs that would not be there if the product was not being sold over a few years. This is different from just looking at the cost of making the product right now. Long-run incremental cost includes some costs that do not change in the short term but can change over a longer period of time depending on whether the product is being sold or not. It is abbreviated as LRIC and is used in antitrust cases to determine if a company is engaging in predatory pricing.

A more thorough explanation:

Long-run incremental cost (LRIC) is a cost threshold used in antitrust law to determine if predatory pricing has occurred. It includes all costs that would not be incurred over a period of several years if a particular product was not offered. This cost differs from average variable cost because it includes some costs that do not vary in the short run but that do vary over a longer period, depending on whether a particular product is offered.

For example, let's say a company wants to enter a new market and decides to offer a product at a very low price to drive out competitors. The company's average variable cost for producing the product is $10, but its long-run incremental cost is $15. This means that if the company were to stop offering the product, it would still have to pay $15 in costs over a period of several years. Therefore, if the company sells the product for less than $15, it is engaging in predatory pricing.

Another example could be a company that wants to expand its business by acquiring a smaller competitor. The antitrust authorities may use LRIC to determine if the acquisition would result in the larger company having too much market power and being able to engage in predatory pricing.

long robe | Longshore and Harbor Workers' Compensation Act

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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