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ZERO SLOPE: A horizontal line in which the numerical value of the slope, calculated as the change in the variable on the vertical axis divided by a change in the variable on the horizontal axis, is zero. In other words, the Y-axis variable is fixed, or constant, for any and all values of the X-axis variable.
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MARGINAL REVENUE CURVE, PERFECT COMPETITION A curve that graphically represents the relation between the marginal revenue received by a perfectly competitive firm for selling its output and the quantity of output sold. Because a perfectly competitive firm is a price taker and faces a horizontal demand curve, its marginal revenue curve is also horizontal and coincides with its average revenue (and demand) curve. A perfectly competitive firm maximizes profit by producing the quantity of output found at the intersection of the marginal revenue curve and marginal cost curve.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time watching the shopping channel seeking to buy either a hepa filter for your furnace or a wall poster commemorating next Thursday. Be on the lookout for strangers with large satchels of used undergarments.
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The first U.S. fire insurance company was established by Benjamin Franklin in 1752 in Philadelphia.
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"I've always believed that if you put in the work, the results will come. I don't do things half-heartedly. Because I know if I do, then I can expect half-hearted results. " -- Michael Jordan, basketball player
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WPO
Weakly Pareto Optimal
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