MONOPOLY 
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output at home, but to retain 
price level in the home market by relieving 
of some supplies even if these supplies when^f 
sold elsewhere realised only paltry.' J 
From the point of view of the monopolist’s 
policy, there is nothing to prevent the price of 
dumped surpluses from dropping to any in 
significant figure, but, as a matter of fact, 
they will not sell for less than the price which 
rules in the foreign market when they invade 
it. This price, nevertheless, might be beneath 
a figure which would leave any profit at all for 
the monopolist were he forced to sell his whole 
output at that particular price. 
Another kind of dumping, which has excited 
a degree of apprehension quite out of propor 
tion to its magnitude, in all probability, 
consists in producing an excessive supply 
in order to sell substantial quantities abroad 
at a material sacrifice for advertising pur 
poses, or in order to oust competitors. It is 
questionable whether this game is worth the 
candle in view of the enormous foreign sales 
which are requisite to get a hold on a foreign 
market, and consequently of its enormous 
cost. It might be well worth the expense were 
it a fact that competitors could be easily put 
to flight and that their rallying to compete 
again within a moderate time would be a