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MARKET EQUILIBRIUM: The state of equilibrium that exists when the opposing market forces of demand and supply exactly offset each other and there is no inherent tendency for change. Once achieved, a market equilibrium persists unless or until it is disrupted by an outside force. A market equilibrium is indicated by equilibrium price and equilibrium quantity.
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LONG-RUN AVERAGE COST The per unit cost of producing a good or service in the long run when all inputs under the control of the firm are variable. In other words, long-run total cost divided by the quantity of output produced. Long-run average cost is guided by returns to scale.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time at a crowded estate auction wanting to buy either a wall poster commemorating last Friday (you know why) or a country wreathe. Be on the lookout for celebrities who speak directly to you through your television.
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This isn't me! What am I?
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Parker Brothers, the folks who produce the Monopoly board game, prints more Monopoly money each year than real currency printed by the U.S. government.
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"One worthwhile task carried to a successful conclusion is worth half-a-hundred half-finished tasks. " -- Malcolm S. Forbes, publisher
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AR(N)
A nth-order Autoregressive Process
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