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MARGINAL REVENUE CURVE, MONOPOLY: A curve that graphically represents the relation between marginal revenue received by a monopoly for selling its output and the quantity of output sold. The marginal revenue curve reflects the market control held by a monopoly firm. For a monopoly firm with complete market control, the marginal revenue curve is negatively-sloped. Moreover, for a given quantity of output, marginal cost is less than price, and the marginal revenue curve lies below the demand curve.
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EQUILIBRIUM PRICE The price that exists when a market is in equilibrium. Equilibrium price is simultaneously equal to both the demand price and supply price and it is the price that equates the quantity demanded and quantity supplied. In a market graph, the equilibrium price is found at the intersection of the demand curve and the supply curve. Equilibrium price, also commonly referred to as the market-clearing price, is one of two equilibrium variables. The other is equilibrium quantity.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time calling an endless list of 800 numbers hoping to buy either a green fountain pen or a handcrafted bird house. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity.
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This isn't me! What am I?
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The New York Stock Exchange was established by a group of investors in New York City in 1817 under a buttonwood tree at the end of a little road named Wall Street.
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"Difficulty is the excuse history never accepts. " -- Edward R. Murrow, News broadcaster
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IV
Instrumental Variables
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