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AMERICAN ENTERPRISE INSTITUTE: A private organization that seeks to maintain and strengthen the foundations of freedom through scholarly research, open debate, and publications. The American Enterprise Institute for Public Policy Research (as it is officially designated) promotes the principles of limited government, private enterprise, vital cultural and political institutions, and a strong foreign policy and national defense. The American Enterprise Institute (AEI) publishes dozens of books and hundreds of articles and reports each year, and an influential policy magazine called The American Enterprise. The AEI is one of the largest and most respected "think tanks" in the United States. The AEI, which was founded in 1943, is located in Washington, D.C.
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PERFECT COMPETITION, LONG-RUN ADJUSTMENT A perfectly competitive industry undertakes a two-part adjustment to equilibrium in the long run. One is the adjustment of each perfectly competitive firm to the appropriate factory size that maximizes long-run profit. The other is the entry of firms into the industry or exit of firms out of the industry, to eliminate economic profit or economic loss. The end result of this long-run adjustment is a multi-faceted equilibrium condition that price is equal to marginal cost and average cost (both short run and long run).
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time at a going out of business sale hoping to buy either a bookshelf that will fit in your closet or a birthday greeting card for your grandfather. Be on the lookout for gnomes hiding in cypress trees.
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Paper money used by the Commonwealth of Massachusetts prior to the U.S. Revolutionary War, which was issued against the dictates of Britain, was designed by patriot and silversmith, Paul Revere.
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"You miss 100% of the shots you never take. " -- Wayne Gretzky, hockey player
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WFTU
World Federation of Trade Unions
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