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AR: The abbreviation for average revenue, which is the revenue received for selling a good, per unit of output sold, found by dividing total revenue by the quantity of output. Average revenue actually goes by a simpler and more widely used term... price. Average revenue is really a fancy-schmancy term for the price received by a seller for selling a good. However, using the longer term average revenue let's us see the connection with other terms, like total revenue, marginal revenue, and quantity.
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FOR WHOM? The allocation question that determines the distribution of goods and services among the members of society. In can be stated as: Who receives the goods and services produced with society's limited resources? This is one of three basic questions of allocation. The other two are What? and How?
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BROWN PRAGMATOX [What's This?]
Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway seeking to buy either income tax software or a how-to book on the art of negotiation. Be on the lookout for letters from the Internal Revenue Service. Your Complete Scope
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A thousand years before metal coins were developed, clay tablet "checks" were used as money by the Babylonians.
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"Life is no brief candle to me. It is a sort of splendid torch which I have got a hold of for the moment, and I want to make it burn as brightly as possible before handing it on to future generations." -- George Bernard Shaw
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AV Actual Value
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