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SEIGNIORAGE: The difference between the face value, or value in exchange, of money and the cost of producing the money. This seigniorage is effectively the profit government generates from producing currency--printing paper bills or minting metal coins. That is, government effectively "makes money" by making money.
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MARGINAL REVENUE CURVE A curve that graphically represents the relation between the marginal revenue received by a firm for selling its output and the quantity of output sold. A firm maximizes profit by producing the quantity of output found at the intersection of the marginal revenue curve and marginal cost curve. The marginal revenue curve for a firm with no market control is horizontal. The marginal revenue curve for a firm with market control is negatively sloped and lies below the average revenue curve.
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BROWN PRAGMATOX
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Today, you are likely to spend a great deal of time surfing the Internet trying to buy either a coffee cup commemorating the first day of winter or a video game player. Be on the lookout for celebrities who speak directly to you through your television.
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A thousand years before metal coins were developed, clay tablet "checks" were used as money by the Babylonians.
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"The less secure a man is, the more likely he is to have extreme prejudices. " -- Clint Eastwood, actor, director
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