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PERFECT PRICE DISCRIMINATION: A form of price discrimination in which a seller charges the highest price that buyers are willing and able to pay for each quantity of output sold. This is also termed first-degree price discrimination because the seller is able to extract ALL consumer surplus from the buyers. This is one of three price discrimination degrees. The others are second-degree price discrimination and third-degree price discrimination.
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PERSONAL INCOME AND NATIONAL INCOME Personal income (PI) is the total income received by the members of the domestic household sector, which may or may not be earned from productive activities during a given period of time. National income (NI) is the total income earned by the citizens of the national economy resulting from their ownership of resources used in the production, which may or may not be received by members of the household sector. Personal income can be derived from national income by subtracting income earned but not received (IEBNR) and adding income received but not earned (IRBNE).
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store trying to buy either a set of steel-belted radial snow tires or a wall poster commemorating the 2000 Presidential election. Be on the lookout for slow moving vehicles with darkened windows.
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This isn't me! What am I?
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The 1909 Lincoln penny was the first U.S. coin with the likeness of a U.S. President.
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"No task is a long one but the task on which one dare not start: It becomes a nightmare. " -- Charles Baudelaire, poet-critic
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WAPM
Weak Axiom of Profit Maximization
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