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KONDRATIEFF CYCLE: A cycle of economic activity lasting between 45 and 60 years that acquired the name of the first economist to study it, the Russian economist N. D. Kondratieff. The Kondratieff cycle is somewhat controversial and has been attributed to a number of different causes, including investment in transportation infrastructure. This is one of four separate cycles of macroeconomic activity that have been documented or hypothesized. The other three are Kitchin cycle, Juglar cycle, and Kuznets cycle.
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PERFECT COMPETITION, REVENUE DIVISION The marginal approach to analyzing a perfectly competitive firm's short-run profit maximizing production decision can be used to identify the division of total revenue among variable cost, fixed cost, and economic profit. The U-shaped cost curves used in this analysis provide all of the information needed on the cost side of the firm's decision. The demand curve facing the firm (which is also the firm's average revenue and marginal revenue curves) provides all of the information needed on the revenue side.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time at a garage sale seeking to buy either a replacement remote control for your television or a replacement nozzle for your shower. Be on the lookout for infected paper cuts.
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This isn't me! What am I?
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Al Capone's business card said he was a used furniture dealer.
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"There's a very positive relationship between people's ability to accomplish any task and the time they're willing to spend on it." -- Dr. Joyce Brothers
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MSE
Mean Squared Error
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