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UNSTABLE EQUILIBRIUM: An equilibrium that is NOT restored if disrupted by an external force. This should be contrasted with stable equilibrium. While most equilibria studied in economics are of the stable variety, a few cases of unstable equilibria do emerge from time to time, in limited circumstances.
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PERFECT COMPETITION, EFFICIENCY Perfect competition is an idealized market structure that achieves an efficient allocation of resources. This efficiency is achieved because the profit-maximizing quantity of output produced by a perfectly competitive firm results in the equality between price and marginal cost. In the short run, this involves the equality between price and short-run marginal cost. In the long run, this is seen with the equality between price and long-run marginal cost at the minimum efficient scale of production.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store trying to buy either a T-shirt commemorating the second moon landing or a coffee cup commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki. Be on the lookout for high interest rates.
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General Electric is the only stock from the original 1896 Dow Jones Industrial Average remaining in the current index.
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"Try first to be a man of value; success will follow. " -- Albert Einstein, physicist
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FED
Federal Reserve
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