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MARGINAL REVENUE CURVE, MONOPOLY: A curve that graphically represents the relation between marginal revenue received by a monopoly for selling its output and the quantity of output sold. The marginal revenue curve reflects the market control held by a monopoly firm. For a monopoly firm with complete market control, the marginal revenue curve is negatively-sloped. Moreover, for a given quantity of output, marginal cost is less than price, and the marginal revenue curve lies below the demand curve.

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LAW OF INCREASING OPPORTUNITY COST

The proposition that opportunity cost, the value of foregone production, increases as the quantity of a good produced increases. This fundamental economic principles can be seen in the production possibilities schedule and is illustrated graphically through the slope of the production possibilities curve. It generates a distinctive convex shape, flat at the top and steep at the bottom.

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Today, you are likely to spend a great deal of time calling an endless list of 800 numbers hoping to buy either a bottle of blackcherry flavored spring water or a travel case for you toothbrush. Be on the lookout for celebrities who speak directly to you through your television.
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Woodrow Wilson's portrait adorned the $100,000 bill that was removed from circulation in 1929. Woodrow Wilson was removed from circulation in 1924.
"always remember an epitaph which is in the cemetery at Tombstone, Arizona. It says: „Here lies Jack Williams. He done his damnedest.¾ I think that is the greatest epitaph a man can have ‚ When he gives everything that is in him to do the job he has before him. That is all you can ask of him and that is what I have tried to do. "

-- Harry Truman, 33rd US president

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