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RULE OF CONSUMER EQUILIBRIUM: A condition of consumer equilibrium and utility maximization stating that the marginal utility-price ratio for all goods are equal. This rule is a handy way of checking for consumer equilibrium and utility maximization. If the rule is not satisfied, then consumer equilibrium and utility maximization are not achieved.
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AVERAGE REVENUE CURVE, PERFECT COMPETITION A curve that graphically represents the relation between average revenue received by a perfectly competitive firm for selling its output and the quantity of output sold. Because average revenue is essentially the price of a good, the average revenue curve is also the demand curve for a perfectly competitive firm's output.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time browsing about a thrift store hoping to buy either several magazines on time travel or 500 feet of telephone cable. Be on the lookout for pencil sharpeners with an attitude.
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This isn't me! What am I?
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Approximately three-fourths of the U.S. paper currency in circular contains traces of cocaine.
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"Whenever an individual or a business decides that success has been attained, progress stops. " -- Thomas Watson Jr., IBM executive
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MAR
Minimum Acceptable Revenue
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