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HOMOGENEOUS OF DEGREE ONE: A property of an equation the exists if independent variables are increased by a constant value, then the dependent variable is increased by the same value. In other words, if the independent variables are doubled, then the dependent variable is also doubled. This property often surfaces in the analysis of production functions. A production function homogeneous of degree one is said to have constant returns to scale.
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AVERAGE REVENUE, MONOPOLISTIC COMPETITION The revenue received for selling a good per unit of output sold, found by dividing total revenue by the quantity of output. Average revenue often goes by a simpler and more widely used term... price. For a monopolistically competitive firm average revenue is greater than marginal revenue. Average revenue for a monopolistically competitive firm is often depicted by a negatively-sloped average revenue curve.
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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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A scripophilist is one who collects rare stock and bond certificates, usually from extinct companies.
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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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HIP
Health Insurance Plan
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