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CHANGE IN QUANTITY DEMANDED: The movement along a demand curve caused by a change in the price of the good. This should be contrasted directly with a change in demand. You might also want to review the terms change in quantity supplied and change in supply, as well. A change in quantity demanded means that we have identified a NEW quantity on the existing demand curve. In contrast, a change in demand means that we have changed, moved, or shifted, the entire demand curve, the whole range of prices and quantities has changed.
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AVERAGE REVENUE PRODUCT AND MARGINAL REVENUE PRODUCT A mathematical connection between average revenue product and marginal revenue product stating that the change in the average revenue product depends on a comparison between the average revenue product and marginal revenue product. If marginal revenue product is less than average revenue product, then average revenue product declines. If marginal revenue product is greater than average revenue product, then average revenue product rises. If marginal revenue product is equal to average revenue product, then average revenue product does not change.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store hoping to buy either a coffee table shaped like the state of Florida or storage boxes for your summer clothes. Be on the lookout for telephone calls from former employers.
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The standard "debt" notation I.O.U. does not mean "I owe you," but actually stands for "I owe unto..."
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"It has been my philosophy of life that difficulties vanish when faced boldly. " -- Isaac Asimov
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M1
currency and coins held by the nonbank public plus checkable deposits issued by traditional banks, savings and loan associations, credit unions, and mutual savings banks
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