|
|
AD-AS MODEL: An economic model relating the price level and real production that is used to analyze business cycles, gross domestic product, unemployment, inflation, stabilization policies, and related macroeconomic phenomena. The AS-AD model, inspired by the standard market model, captures the interaction between aggregate demand (the buyers) and short-run and long-run aggregate supply (the sellers).
Visit the GLOSS*arama
|
|
|
|
|
KINKED-DEMAND CURVE ANALYSIS An analysis using the kinked-demand curve to explain rigid prices often found with oligopoly. The kinked-demand curve contains two distinct segments--one for higher prices that is more elastic and one for lower prices that is less elastic. Key to this analysis is that the corresponding marginal revenue curve contains three segments--one associated with the more elastic segment, one associated with the less elastic segment, and one associated with the kink. A profit-maximizing firm can then equate marginal cost to a wide range of marginal revenue values along the vertical segment of the marginal revenue curve. This suggests that marginal cost must change significantly before an oligopolistic firm is inclined to change price.
Complete Entry | Visit the WEB*pedia |
|
|
RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time searching the newspaper want ads hoping to buy either a T-shirt commemorating the first day of winter or software that won't crash your computer. Be on the lookout for slightly overweight pizza delivery guys.
Your Complete Scope
This isn't me! What am I?
|
|
|
The 1909 Lincoln penny was the first U.S. coin with the likeness of a U.S. President.
|
|
|
"Aerodynamically, the bumblebee shouldn't be able to fly, but the bumblebee doesn't know it so it goes on flying anyway. " -- Mary Kay Ash, entrepreneur
|
|
CCC
Commodity Credit Corporation (US)
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
