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ELASTICITY AND SUPPLY INTERCEPT: The intersection of a straight-line supply curve with vertical price axis and/or horizontal quantity axis reveals the relative price elasticity of supply. Intersection with the horizontal quantity axis means inelastic and intersection with the vertical price axis means elastic. Intersection with the origin means unit elastic supply.
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AVERAGE REVENUE CURVE A curve that graphically represents the relation between average revenue received by a firm 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 firm's output. The average revenue curve for a firm with no market control is horizontal. The average revenue curve for a firm with market control is negatively sloped.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors trying to buy either a wall poster commemorating the first day of spring or a lazy Susan for you dining room table. Be on the lookout for infected paper cuts.
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The first paper notes printed in the United States were in denominations of 1 cent, 5 cents, 25 cents, and 50 cents.
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"Are you bored with life? Then throw yourself into some work you believe in with all your heart. Live for it, die for it, and you will find happiness that you had thought could never be yours. " -- Dale Carnegie, writer
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MFC
Marginal Factor Cost
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