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PLANNING PERIOD: The period of time in which a firm selects the profit-maximizing plant size in the long run when all inputs, especially capital, are variable. This is, in other words, another term for the long run, but applied to the adjustment using the long-run average cost curve.
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IMPERFECT COMPETITION Markets or industries with two or more sellers and buyers that fail to match the criteria of perfect competition. The most noted examples of imperfect competition are the two market structures with selling-side control--monopolistic competition and oligopoly. Lesser known market structures with buying-side control--monopsonistic competition and oligopsony--are also considered as imperfect competition. Facing no competition, monopoly and monopsony are not included. Most real world markets can be considered imperfect competition.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time lost in your local discount super center wanting to buy either a T-shirt commemorating the first day of winter or software that won't crash your computer. Be on the lookout for infected paper cuts.
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North Carolina supplied all the domestic gold coined for currency by the U.S. Mint in Philadelphia until 1828.
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"Habit is a cable; we weave a thread of it each day, and at last we cannot break it. " -- Horace Mann, educator
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CBOE
Chicago Board Options Exchange
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