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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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SCARCITY A pervasive condition of human existence that results because society has unlimited wants and needs, but limited resources used for their satisfaction. This fundamental condition is the common thread that binds all of the topics studied in economics.
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BEIGE MUNDORTLE [What's This?]
Today, you are likely to spend a great deal of time at a dollar discount store looking to buy either a weathervane with a cow on top or a box of multi-colored, plastic paper clips. Be on the lookout for cardboard boxes. Your Complete Scope
This isn't me! What am I?
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Junk bonds are so called because they have a better than 50% chance of default, carrying a Standard & Poor's rating of CC or lower.
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"I not only use all the brains that I have, but all that I can borrow. " -- Woodrow Wilson, 28th US president
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WAPM Weak Axiom of Profit Maximization
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