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MARKET EQUILIBRIUM, GRAPHICAL ANALYSIS: An analysis of market equilibrium using a graph that combines a demand curve and a supply curve. A graphical analysis of the market is used to ascertain information such as market equilibrium, equilibrium price, equilibrium quantity, shortage, and surplus. This is one of two basic methods of analyzing market equilibrium. The other is a numerical analysis using demand and supply schedules.
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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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The wealthy industrialist, Andrew Carnegie, was once removed from a London tram because he lacked the money needed for the fare.
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"Ships are safe in harbor. But that is not what ships are for." -- Anonymous
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BEA
Bureau of Economic Analisys
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