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MARGINAL REVENUE: The change in total revenue resulting from a change in the quantity of output sold. For a perfectly competitive firm, marginal revenue is equal to price.
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AVERAGE PRODUCT CURVE A curve that graphically illustrates the relation between average product and the quantity of the variable input, holding all other inputs fixed. This curve indicates the per unit output at each level of the variable input. The average product curve is one of three related curves used in the analysis of the short-run production of a firm. The other two are total product curve and marginal product curve.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time watching infomercials wanting to buy either a large red and white striped beach towel or a bottle of blackcherry flavored spring water. Be on the lookout for defective microphones.
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North Carolina supplied all the domestic gold coined for currency by the U.S. Mint in Philadelphia until 1828.
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"A man is not finished when he is defeated. He is finished when he quits. " -- President Richard Nixon
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NDP
Net Domestic Product
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