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ECONOMIC POLICIES: Government actions designed to affect economic activity and pursue one or more economic goals. Also called economic policies. The four common types of government policies are: fiscal, monetary, regulatory, and judicial.

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U-SHAPED COST CURVES

The family of short-run cost curves consisting of average total cost, average variable cost, and marginal cost, all of which have U-shapes. Each is U-shaped because it begins with relatively high but falling cost for small quantities of output, reaches a minimum value, then has rising cost at large quantities of output. Although the average fixed cost curve is not U-shaped, it is occasionally included with the other three just for sake of completeness.

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YELLOW CHIPPEROON
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Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway wanting to buy either one of those "hang in there" kitty cat posters or a velvet painting of Elvis Presley. Be on the lookout for letters from the Internal Revenue Service.
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A communal society, a prime component of Karl Marx's communist philosophy, was advocated by the Greek philosophy Plato.
"Concentration is the secret of strength in politics, in war, in trade, in short in all management of human affairs. "

-- Ralph Waldo Emerson, philosopher, poet

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