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PHYSICAL ASSET: A productive resource, capital, property, or satisfaction-generating good. Also termed real asset. This should be contrasted with financial assets that are legal claims on physical assets.

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LONG-RUN INDUSTRY SUPPLY CURVE

The relation between market price and the quantity supplied by all firms in a perfectly competitive industry after the industry has completed its long-run adjustment. The long-run industry supply curve effectively traces out a series of equilibrium prices and quantities that reflect long-run adjustments of a perfectly competitive industry to demand shocks. This long-run adjustment can take one of three paths, indicating an increasing-cost industry, a decreasing-cost industry, and a constant-cost industry.

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APLS

BROWN PRAGMATOX
[What's This?]

Today, you are likely to spend a great deal of time at the confiscated property police auction wanting to buy either clothing for your pet iguana or a set of hubcaps. Be on the lookout for the last item on a shelf.
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This isn't me! What am I?

Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
"Believe one who has tried it. "

-- Virgil, Roman poet

DPI
Disposable Personal Income
A PEDestrian's Guide
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