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MARGINAL REVENUE CURVE, MONOPOLY: A curve that graphically represents the relation between marginal revenue received by a monopoly for selling its output and the quantity of output sold. The marginal revenue curve reflects the market control held by a monopoly firm. For a monopoly firm with complete market control, the marginal revenue curve is negatively-sloped. Moreover, for a given quantity of output, marginal cost is less than price, and the marginal revenue curve lies below the demand curve.
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INFLATION PROBLEMS Two notable problems are associated with inflation--uncertainty and haphazard redistribution. Inflation, especially inflation that varies from month to month and year to year, makes long-term planning quite difficult. Prices, wages, taxes, interest rates, and other nominal values that enter into consumer, business, and government planning decisions can be significantly affected by inflation. Moreover, inflation tends to redistribute income and wealth in a haphazard manner--some people win and some people lose. This redistribution might not be that desired by society, failing to promote any of the basic economic goals of efficiency, equity, stability, growth, or full-employment.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time searching for a specialty store hoping to buy either a remote controlled sports car with an air spoiler or semi-gloss photo paper that works with your neighbor's printer. Be on the lookout for high interest rates.
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The 1909 Lincoln penny was the first U.S. coin with the likeness of a U.S. President.
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"Ships are safe in harbor. But that is not what ships are for." -- Anonymous
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QML
Quasi-Maximum Likelihood
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