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KINKED-DEMAND CURVE ANALYSIS: An analysis that seeks to explain rigid oligopolistic prices using the kinked-demand curve. The kinked demand curve contains two distinct segments, one for higher prices that is more elastic and one for lower prices that is less elastic. The corresponding marginal revenue curve contains a vertical segment at the existing or initial quantity. Because a profit-maximizing oligopolistic firm equates marginal cost to marginal revenue, marginal cost also can take on a range of values at the existing quantity. In other words, marginal cost can increase or decrease without inducing a profit-maximizing oligopolistic firm to change price or quantity.
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BALANCED-BUDGET MULTIPLIER A measure of the change in aggregate production caused by equal changes in government purchases and taxes. The balanced-budget multiplier is equal to one, meaning that the multiplier effect of a change in taxes offsets all but the initial production triggered by the change in government purchases. This multiplier is the combination of the expenditures multiplier, which measures the change in aggregate production caused by changes in an autonomous aggregate expenditure, and the tax multiplier which measures the change in aggregate production caused by changes in taxes.
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BROWN PRAGMATOX
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Today, you are likely to spend a great deal of time wandering around the downtown area seeking to buy either an ink cartridge for your printer or a rechargeable battery for your camera. Be on the lookout for crowded shopping malls.
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The standard "debt" notation I.O.U. does not mean "I owe you," but actually stands for "I owe unto..."
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"Concentration is the secret of strength in politics, in war, in trade, in short in all management of human affairs. " -- Ralph Waldo Emerson, philosopher, poet
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BA
Bank Acceptance
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