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ZERO SLOPE: A horizontal line in which the numerical value of the slope, calculated as the change in the variable on the vertical axis divided by a change in the variable on the horizontal axis, is zero. In other words, the Y-axis variable is fixed, or constant, for any and all values of the X-axis variable.
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AVERAGE REVENUE, MONOPOLISTIC COMPETITION The revenue received for selling a good per unit of output sold, found by dividing total revenue by the quantity of output. Average revenue often goes by a simpler and more widely used term... price. For a monopolistically competitive firm average revenue is greater than marginal revenue. Average revenue for a monopolistically competitive firm is often depicted by a negatively-sloped average revenue curve.
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A Random Walk Through Some ECONOMIC STATISTICSA pedestrian must always be on guard during any economic excursion, especially when passing the Sylvester J. Peabody Federal Office Building here in Shady Valley. You never know when a window will burst open sending a barrage of glass slivers and economic statistics haphazardly into the street. This is usually followed by a pointy-headed economist who pokes his pointy head through the remaining shards of glass to adamantly declare that there's absolutely, positively NO RECESSION! But he'll recheck the numbers just in case there really is one. WATCH OUT! DUCK!
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store trying to buy either a remote controlled World War I bi-plane or a wall poster commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki. Be on the lookout for broken fingernail clippers.
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This isn't me! What am I?
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Two and a half gallons of oil are needed to produce one automobile tire.
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"Genius is an infinite capacity for taking pains. " -- Jane Ellis Hopkins, writer
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