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TOTAL REVENUE CURVE, MONOPOLISTIC COMPETITION: A curve that graphically represents the relation between total revenue received by a monopolistically competitive firm for selling its output and the quantity of output sold. It is used with the firm's total cost curve to determine economic profit. The marginal revenue curve, a key factor for determining the profit-maximizing level of a firm's output, is derived directly from the total revenue curve. The slope of this total revenue curve is marginal revenue. This curve is constructed to capture the relation between total revenue and the level of output, holding other variables constant.
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GOLDSMITH MONEY CREATION An illustration of the basic money creation process undertaken by banks using the hypothetical activities of a hypothetical goldsmith. The goldsmith profession of Medieval Europe provides insight into the modern banking business, including the seemingly magical ability of banks to create valuable money out of inputs with significantly less value.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time searching for a specialty store seeking to buy either a video camera with stop action features or one of those memory foam pillows. Be on the lookout for jovial bank tellers.
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In the late 1800s and early 1900s, almost 2 million children were employed as factory workers.
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"It has been my philosophy of life that difficulties vanish when faced boldly. " -- Isaac Asimov
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SIPP
Survey of Income and Program Participation
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