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VERTICAL AXIS: In a graph, this is one of two lines that intersect at a right angle. This is the 'Y-axis' that runs up and down.

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AVERAGE REVENUE CURVE, MONOPOLY

A curve that graphically represents the relation between average revenue received by a monopoly for selling its output and the quantity of output sold. Because average revenue is essentially the price of a good, the average revenue curve is also the demand curve for a monopoly's output.

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Today, you are likely to spend a great deal of time flipping through mail order catalogs seeking to buy either a remote controlled train set or a genuine down-filled snow parka. Be on the lookout for celebrities who speak directly to you through your television.
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There were no banks in colonial America before the U.S. Revolutionary War. Anyone seeking a loan did so from another individual.
"Few things can help an individual more than to place responsibility on him, and to let him know that you trust him. "

-- Booker T. Washington, educator

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