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REGULATORY POLICY: Government policy based on government's ability to pass laws and enact regulations.
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MARGINAL REVENUE, PERFECT COMPETITION The change in total revenue resulting from a change in the quantity of output sold. Marginal revenue indicates how much extra revenue a perfectly competitive firm receives for selling an extra unit of output. It is found by dividing the change in total revenue by the change in the quantity of output. Marginal revenue is the slope of the total revenue curve and is one of two revenue concepts derived from total revenue. The other is average revenue. To maximize profit, a perfectly competitive firm equates marginal revenue and marginal cost.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time driving to a factory outlet seeking to buy either one of those "hang in there" kitty cat posters or a velvet painting of Elvis Presley. Be on the lookout for high interest rates.
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Post WWI induced hyperinflation in German in the early 1900s raised prices by 726 million times from 1918 to 1923.
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"The roots of education are bitter, but the fruit is sweet." -- Aristotle
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MLE
Maximum Likelihood Estimator
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