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MARKET EQUILIBRIUM, GRAPHICAL ANALYSIS: An analysis of market equilibrium using a graph that combines a demand curve and a supply curve. A graphical analysis of the market is used to ascertain information such as market equilibrium, equilibrium price, equilibrium quantity, shortage, and surplus. This is one of two basic methods of analyzing market equilibrium. The other is a numerical analysis using demand and supply schedules.
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MARGINAL REVENUE, MONOPOLISTIC COMPETITION The change in total revenue resulting from a change in the quantity of output sold. Marginal revenue indicates how much extra revenue a monopolistically competitive firm receives for selling an extra unit of output. It is found by dividing the change in total revenue by the change in the quantity of output. Marginal revenue is the slope of the total revenue curve and is one of two revenue concepts derived from total revenue. The other is average revenue. To maximize profit, a monopolistically competitive firm equates marginal revenue and marginal cost.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors seeking to buy either a wall poster commemorating yesterday or pink cotton balls. Be on the lookout for door-to-door salesmen.
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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.
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"I much prefer the sharpest criticism of a single intelligent man to the thoughtless approval of the masses." -- Johannes Kepler, German Astronomer
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AIC
Akaike's Information Criterion
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