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MARGINAL REVENUE, PERFECT COMPETITION: The change in total revenue resulting from a change in the quantity of output sold. Marginal revenue indicates how much extra revenue a perfectly competitive firm receives for selling an extra unit of output. It is found by dividing the change in total revenue by the change in the quantity of output. Marginal revenue is the slope of the total revenue curve and is one of two revenue concepts derived from total revenue. The other is average revenue. To maximize profit, a perfectly competitive firm equates marginal revenue and marginal cost.
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AVERAGE REVENUE CURVE, MONOPOLISTIC COMPETITION A curve that graphically represents the relation between average revenue received by a monopolistically competitive firm for selling its output and the quantity of output sold. Because average revenue is essentially the price of a good, the average revenue curve is also the demand curve for a monopolistically competitive firm's output.
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RED AGGRESSERINE
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Today, you are likely to spend a great deal of time wandering around the downtown area seeking to buy either a how-to book on fixing your computer, with illustrations or several magazines on computer software. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity.
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Post WWI induced hyperinflation in German in the early 1900s raised prices by 726 million times from 1918 to 1923.
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"It is only our deeds that reveal who we are. " -- Carl Jung, psychiatrist
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