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EIGHT-FIRM CONCENTRATION RATIO: The proportion of total output in an industry that's produced by the eight largest firms in the industry. This is one of two common concentration ratios. The other is the four-firm concentration ratio. The eight-firm concentration ratio is commonly used to indicate the degree to which an industry is oligopolistic and how market control is held by the eight largest firms in the industry.
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ELASTIC SUPPLY The general supply relation in which relatively small changes in price cause relatively large changes in quantity supplied. Small changes in price cause relatively large changes in quantity supplied or the percentage change in quantity supplied is larger than the percentage change in price. This characterization of elasticity is most important for the price elasticity of supply. Elastic supply is one of two general elasticity relations for supply. The other is inelastic supply.
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GREEN LOGIGUIN
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Today, you are likely to spend a great deal of time strolling through a department store hoping to buy either a lazy Susan for you dining room table or a set of serrated steak knives, with durable plastic handles. Be on the lookout for the happiest person in the room.
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A U.S. dime has 118 groves around its edge, one fewer than a U.S. quarter.
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"Things turn out best for the people who make the best of the way things turn out." -- Art Linkletter
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SNP
Seminonparametric
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