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MARGINAL REVENUE CURVE: A curve that graphically represents the relation between marginal revenue received by a firm for selling its output and the quantity of output sold. The marginal revenue curve is constructed to capture the relation between marginal revenue and the level of output, holding other variables constant.

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NATIONALIZATION

The process in which a national government takes over the ownership of a private business or industry, usually, but not always, in conjunction with a major revolution that establishes a communist or socialist command economy.

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GRAY SKITTERY
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Today, you are likely to spend a great deal of time searching for rummage sales trying to buy either a wall poster commemorating yesterday or pink cotton balls. Be on the lookout for door-to-door salesmen.
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The portion of aggregate output U.S. citizens pay in taxes (30%) is less than the other six leading industrialized nations -- Britain, Canada, France, Germany, Italy, or Japan.
"Well done is better than well said. "

-- Benjamin Franklin, statesman, inventor

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