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NEW YORK STOCK EXCHANGE: The largest stock market in the United States, located on the famous Wall Street in New York City. This is the big daddy of all stock markets in the country, often referred to as the "big board." It was begun in the 1790s to help fledgling corporations in our fledgling country raise the funds needed for capital investment. All stock transactions (millions each day) are conducted by its members, making membership a very valuable commodity. It currently has slightly over a 1,000 members or "seats," with the only way to get a seat on the exchange from a retiring or deceased member.

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PERFECT COMPETITION, PROFIT ANALYSIS

A perfectly competitive firm produces the profit-maximizing quantity of output that generates the highest level of profit. This profit approach is one of three methods that used to determine the profit-maximizing quantity of output. The other two methods involve a comparison of total revenue and total cost or a comparison of marginal revenue and marginal cost.

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PURPLE SMARPHIN
[What's This?]

Today, you are likely to spend a great deal of time flipping through mail order catalogs trying to buy either a battery-powered, rechargeable vacuum cleaner or a remote controlled World War I bi-plane. Be on the lookout for the happiest person in the room.
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The 22.6% decline in stock prices on October 19, 1987 was larger than the infamous 12.8% decline on October 29, 1929.
"Do not go where the path may lead, go instead where there is no path and leave a trail."

-- Ralph Waldo Emerson

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