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HEDONIC PRICE: The notion that the price of good is based on an assortment of characteristics that are both intrinsic to the good itself and external to the good. Hedonic pricing is commonly applied to the housing market in which the price of housing is based on the physical characteristics of the house (size, appearance, features) and the surrounding neighborhood (accessibility to schools and shopping, quality of other houses, availability of public services). Estimating hedonic prices makes it possible to identify the extent to which specific factors affect the price.
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PERFECT COMPETITION, PROFIT ANALYSIS A perfectly competitive firm produces the profit-maximizing quantity of output that generates the highest level of profit. This profit approach is one of three methods that used to determine the profit-maximizing quantity of output. The other two methods involve a comparison of total revenue and total cost or a comparison of marginal revenue and marginal cost.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time going from convenience store to convenience store trying to buy either a flower arrangement with a lot of roses for your grandmother or a wall poster commemorating the first day of winter. Be on the lookout for jovial bank tellers.
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Before 1933, the U.S. dime was legal as payment only in transactions of $10 or less.
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"Believe and act as if it were impossible to fail." -- Charles F. Kettering
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MGF
Moment Generating Function
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