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MARGINAL REVENUE CURVE, MONOPOLISTIC COMPETITION: A curve that graphically represents the relation between marginal revenue received by a monopolistically competitive firm for selling its output and the quantity of output sold. The marginal revenue curve reflects the degree of market control held by a firm. For a monopolistically competitive firm with some market control, but not a whole lot, the marginal revenue curve is negatively-sloped but relatively elastic.
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AVERAGE REVENUE The revenue received for selling a good per unit of output sold, found by dividing total revenue by the quantity of output. Average revenue often goes by a simpler and more widely used term... price. Using the longer term average revenue rather than price provides a connection to other related terms, especially total revenue and marginal revenue. When compared with average cost, average revenue indicates the amount of profit generated per unit of output produced. Average revenue is often depicted by an average revenue curve.
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GREEN LOGIGUIN
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Today, you are likely to spend a great deal of time at an auction hoping to buy either a three-hole paper punch or decorative picture frames. Be on the lookout for empty parking spaces that appear to be near the entrance to a store.
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A lump of pure gold the size of a matchbox can be flattened into a sheet the size of a tennis court!
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"Kites rise highest against the wind, not with it. " -- Winston Churchill, British prime minister
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