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HORIZONTAL EQUITY: A system of taxes that treats equal people equally. In other words, if you make the same income as someone else and pay the same personal income taxes, then you have horizontal equity.

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TOTAL REVENUE, PERFECT COMPETITION

The revenue received by a perfectly competitive firm for the sale of its output. Total revenue is one two bits of information a perfectly competitive firm needs to calculate economic profit, the other is total cost. In general, total revenue is the price times quantity--the price received for selling a good times the quantity of the good sold at that price. For a perfectly competitive firm, which receives a single unchanging price for all output sold, the calculation is relatively easy. Two other revenue measures directly related to total revenue are average revenue and marginal revenue. Total revenue is often depicted as a total revenue curve.

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APLS

BROWN PRAGMATOX
[What's This?]

Today, you are likely to spend a great deal of time searching for a specialty store hoping to buy either a birthday gift for your grandfather or a pleather CD case. Be on the lookout for poorly written technical manuals.
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This isn't me! What am I?

In the late 1800s and early 1900s, almost 2 million children were employed as factory workers.
"Failure is the opportunity to begin again, more intelligently. "

-- Henry Ford, automobile manufacturer

NPV
Net Present Value
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