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May 9, 2026 

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HORIZONTAL EQUITY: A system of taxes that treats equal people equally. In other words, if you make the same income as someone else and pay the same personal income taxes, then you have horizontal equity.

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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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[What's This?]

Today, you are likely to spend a great deal of time searching for a specialty store looking to buy either a T-shirt commemorating last Friday (you know why) or a rotisserie oven that can also toast bread. Be on the lookout for empty parking spaces that appear to be near the entrance to a store.
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This isn't me! What am I?

A lump of pure gold the size of a matchbox can be flattened into a sheet the size of a tennis court!
"Enthusiasm is the greatest asset in the world. It beats money and power and influence. It is no more or less than faith in action. "

-- Henry Chester, Writer

WPI
Wholesale Price Index
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