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OLIGOPOLY CHARACTERISTICS: The three most important characteristics of oligopoly are: (1) an industry dominated by a small number of large firms, (2) firms sell either identical or differentiated products, and (3) the industry has significant barriers to entry.

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AVERAGE-MARGINAL RELATION

A mathematical connection between a marginal value and the corresponding average value stating that the change in the average value depends on a comparison between the average and the marginal. This mathematical relation between average and marginal surfaces throughout the study of economics, especially production (average product and marginal product), cost (average total cost and marginal cost), and revenue (average revenue and marginal revenue). A similar relation is that between a total value and the corresponding marginal value.

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GREEN LOGIGUIN
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Today, you are likely to spend a great deal of time surfing the Internet seeking to buy either pink cotton balls or a genuine down-filled comforter. Be on the lookout for defective microphones.
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A thousand years before metal coins were developed, clay tablet "checks" were used as money by the Babylonians.
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