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RESERVATION PRICE: The lowest price at which a supplier is willing to supply any amount of a good. This is usually based on the minimum cost of production. For labor, it's the lowest wage that makes it worthwhile to get up in the morning, miss your favorite daytime television shows, and go to work.
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OLIGOPOLY AND MONOPOLISTIC COMPETITION Oligopoly and monopolistic competition have some similarities, but also have a few important differences. Both are examples of imperfect competition on the market structure continuum between ideals of perfect competition and monopoly. However, oligopoly contains a small number of large firms and monopolistic competition contains a large number of small firms. The dividing line between oligopoly and monopolistic competition can be blurred due to the number of firms in the industry.
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GREEN LOGIGUIN
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Today, you are likely to spend a great deal of time searching the newspaper want ads trying to buy either a three-hole paper punch or decorative picture frames. Be on the lookout for poorly written technical manuals.
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The first paper notes printed in the United States were in denominations of 1 cent, 5 cents, 25 cents, and 50 cents.
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"A stumble may prevent a fall. " -- Margaret Thatcher, British prime minister
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