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POVERTY RATE: The proportion of the population that lies beneath the official poverty line. For example, if the total population of the country is 270 million, and 40 million have incomes placing them below the official poverty line, then the poverty rate is 14.8%.

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PERFECT COMPETITION, SHORT-RUN SUPPLY CURVE

A perfectly competitive firm's supply curve is that portion of its marginal cost curve that lies above the minimum of the average variable cost curve. A perfectly competitive firm maximizes profit by producing the quantity of output that equates price and marginal cost. As such, the firm moves along its positively-sloped marginal cost curve in response to changing prices.

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Today, you are likely to spend a great deal of time at a going out of business sale seeking to buy either storage boxes for your family photos or a large, stuffed giraffe. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity.
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In his older years, Andrew Carnegie seldom carried money because he was offended by its sight and touch.
"My philosophy of life is that if we make up our mind what we are going to make of our lives, then work hard toward that goal, we never lose - somehow we win out."

-- President Ronald Reagan

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