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GOVERNMENT SUBSIDIES: Transfer payments from the government sector to the business sector that do not involve current production. This is one component of the official entry government subsidies less current surplus of government enterprises found in the National Income and Product Accounts maintained by the Bureau of Economic Analysis that separates national income (the resource cost of production) and gross/net domestic product (the market value of production).
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KINKED-DEMAND CURVE ANALYSIS An analysis using the kinked-demand curve to explain rigid prices often found with oligopoly. The kinked-demand curve contains two distinct segments--one for higher prices that is more elastic and one for lower prices that is less elastic. Key to this analysis is that the corresponding marginal revenue curve contains three segments--one associated with the more elastic segment, one associated with the less elastic segment, and one associated with the kink. A profit-maximizing firm can then equate marginal cost to a wide range of marginal revenue values along the vertical segment of the marginal revenue curve. This suggests that marginal cost must change significantly before an oligopolistic firm is inclined to change price.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time wandering around the downtown area looking to buy either a coffee cup commemorating next Thursday or a replacement remote control for your stereo system. Be on the lookout for jovial bank tellers.
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On a typical day, the United States Mint produces over $1 million worth of dimes.
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"The best way to cheer yourself up is to try to cheer somebody else up." -- Mark Twain
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PBOT
Phildelphia Board of Trade
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