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IMPLICIT COLLUSION: Seemingly independent, but parallel actions among competing firms (mostly oligopolistic firms) in an industry that achieve higher prices and profits, much as if guided by an explicit collusion agreement. Also termed tacit collusion, the distinguishing feature of implicit collusion is the lack of any explicit agreement. They key is that each firm seems to be acting independently, perhaps each responding to the same market conditions, but the end result is the same as an explicit agreement. This should be contrasted with explicit or overt collusion that does involve a formal, explicit agreement.
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AGGREGATE MARKET An economic model relating the price level and real production that is used to analyze business cycles, gross production, unemployment, inflation, stabilization policies, and related macroeconomic phenomena. The aggregate market, inspired by the standard market model, but adapted to the macroeconomy, captures the interaction between aggregate demand (the buyers) and short-run and long-run aggregate supply (the sellers). Also known by the names AS-AD model or income-price model, the aggregate market is THE cornerstone model of macroeconomic analysis.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time watching the shopping channel hoping to buy either car battery jumper cables or a dozen high trajectory optic orange golf balls. Be on the lookout for mail order catalogs with hidden messages.
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The Dow Jones family of stock market price indexes began with a simple average of 11 stock prices in 1884.
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"The only place success comes before work is in the dictionary. " -- Vince Lombardi
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ATC
Average Total Cost
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