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MARGINAL REVENUE: The change in total revenue resulting from a change in the quantity of output sold. For a perfectly competitive firm, marginal revenue is equal to price.
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ECONOMICS OF UNCERTAINTY The study of the role that uncertainty plays in the economy and in the allocation of resources, with special attention paid to the analysis of risk. Key topics in this area of study and analysis are risk preferences (aversion, neutrality, and loving) and the provision of insurance. This study of the economics of uncertainty is part of the broader study of the economics of information.
Complete Entry | Visit the WEB*pedia |
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time browsing through a long list of dot com websites wanting to buy either a birthday greeting card for your father or a T-shirt commemorating the first day of spring. Be on the lookout for vindictive digital clocks with revenge on their minds.
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This isn't me! What am I?
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Two and a half gallons of oil are needed to produce one automobile tire.
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"When you play, play hard; when you work, don't play at all. " -- Theodore Roosevelt, 26th US president
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NE
Nash Equilibrium
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