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PERFECT COMPETITION, PROFIT MAXIMIZATION: A perfectly competitive firm is presumed to produce the quantity of output that maximizes economic profit--the difference between total revenue and total cost. This production decision can be analyzed directly with economic profit, by identifying the greatest difference between total revenue and total cost, or by the equality between marginal revenue and marginal cost.
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CHANGE IN AGGREGATE EXPENDITURES The movement along an aggregate demand curve caused by a change in the price level. A change in aggregate expenditures is ONLY caused by a change in the price level. This is one of two changes related to aggregate demand. The other is a change in aggregate demand. A change in aggregate expenditures is comparable to a change in quantity demanded.
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The Economics Of Dueling POLITICAL VIEWSThere seems to be a disturbance on the steps of the Shady Valley City Hall. Why it's the twins, Donna and Rhonda, engaged in yet another of their long-running, and overly heated, political arguments. Donna, you see, is a devoted Democrat and Rhonda is a rigid Republican. They haven't found much to agree on since, well, come to think of it they've never agreed on anything. In their current debate, Donna is making a strident case for stricter regulation of the banking industry and Rhonda is championing the virtues of free enterprise. I had better hitch up my jogging pants and intervene before their argument comes to blows -- again. While I do, let's ponder the source of differing political views.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway hoping to buy either a black duffle bag with velcro closures or any book written by Isaac Asimov. Be on the lookout for the happiest person in the room.
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This isn't me! What am I?
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Parker Brothers, the folks who produce the Monopoly board game, prints more Monopoly money each year than real currency printed by the U.S. government.
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"Only great minds can afford a simple style." -- Stendhal, writer
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IBEX-35
Stock Index (Spain)
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