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MARGINAL REVENUE, PERFECT COMPETITION: The change in total revenue resulting from a change in the quantity of output sold. Marginal revenue indicates how much extra revenue a perfectly competitive firm receives for selling an extra unit of output. It is found by dividing the change in total revenue by the change in the quantity of output. Marginal revenue is the slope of the total revenue curve and is one of two revenue concepts derived from total revenue. The other is average revenue. To maximize profit, a perfectly competitive firm equates marginal revenue and marginal cost.
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AGGREGATE EXPENDITURES EQUATION An equation that summarizes the four aggregate expenditures on gross domestic product by the four macroeconomic sectors. In the study of Keynesian economics, this equation is commonly used to summarize the demand side of the macroeconomy. The aggregate expenditures equation actually comes in three different versions depending on how many of the four sectors and their expenditures are included.
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GREEN LOGIGUIN
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Today, you are likely to spend a great deal of time at a going out of business sale looking to buy either handcrafted decorations to hang on your walls or throw pillows for your bed. Be on the lookout for strangers with large satchels of used undergarments.
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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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"Do something wonderful; people may imitate it. " -- Albert Schweitzer, theologian, physician
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AR
Average Revenue, Autoregressive
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