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PARTNERSHIP: One of the three basic forms of business organization (the other two are corporation and proprietorship). A partnership is a business that's owned and operated more or less equally by two or more people. The owners and the business are legally considered one and the same. As such, each owner has unlimited liability, which means that an owner is held personally responsible for any and all of the business's debts, including those made by a partner.
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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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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time searching for rummage sales wanting to buy either an AC adapter that won't fry your computer or a case for your designer sunglasses. Be on the lookout for telephone calls from former employers.
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On a typical day, the United States Mint produces over $1 million worth of dimes.
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"We should never allow ourselves to be bullied by an either-or. There is often the possibility of something better than either of those two alternatives. " -- Mary Parker Follett, management coach
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OAS
Organization of American States
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