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UNANIMITY RULE: A voting rule in which decisions are made based on unanimous approval of those casting votes. That is, every voter must cast the same vote. Unanimity is used in elections where there is no room for doubt or disagreement. The most common example is court cases where a jury must vote unanimously for conviction or acquittal. Private clubs also employ unanimity vote when admitting new members. This is one of several voting rules. Others include majority, super majority, and plurality.
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AVERAGE REVENUE CURVE, MONOPOLISTIC COMPETITION A curve that graphically represents the relation between average revenue received by a monopolistically competitive firm for selling its output and the quantity of output sold. Because average revenue is essentially the price of a good, the average revenue curve is also the demand curve for a monopolistically competitive firm's output.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time going from convenience store to convenience store wanting to buy either hand lotion, a big bottle of hand lotion or a lighted magnifying glass. Be on the lookout for malfunctioning pocket calculators.
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Mark Twain said "I wonder how much it would take to buy soap buble if there was only one in the world."
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"He, who every morning plans the transactions of the day, and follows that plan, carries a thread that will guide him through a labyrinth of the most busy life." -- Victor Hugo, Writer
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QJE
Quarterly Journal of Economics
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