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APPRECIATION: A more or less permanent increase in value or price. "More or less permanent" doesn't include temporary, short-term jumps in price that are common in many markets. Appreciation is only those price increases that reflect greater consumer satisfaction and thus value. While all sorts of stuff can appreciate in value, some of the more common ones are real estate, works of art, corporate stock, and money. In particular, the appreciation of a nation's money is seen by an increase in the exchange rate caused by a growing, expanding, and healthy economy.
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TOTAL REVENUE, MONOPOLISTIC COMPETITION The revenue received by a monopolistically competitive firm for the sale of its output. Total revenue is one two bits of information a monopolistically competitive firm needs to calculate economic profit, the other is total cost. In general, total revenue is the price times quantity--the price received for selling a good times the quantity of the good sold at that price. For a monopolistically competitive firm, which has a modest degree of market control, total revenue increases at a decreasing rate. Two other revenue measures directly related to total cost are average revenue and marginal revenue. Total revenue is often depicted as a total revenue curve.
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BEIGE MUNDORTLE
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Today, you are likely to spend a great deal of time surfing the Internet looking to buy either a small palm tree that will fit on your coffee table or several magazines on fashion design. Be on the lookout for jovial bank tellers.
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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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"As the births of living creatures at first are ill-shapen, so are all innovations, which are the births of time. " -- Sir Francis Bacon, philosopher
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LRTC
Long Run Total Cost
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