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JUDICIAL POLICY: Government policy based on enforcement of laws and regulations through the courts, especially the Supreme Court.
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PERFECT COMPETITION, EFFICIENCY Perfect competition is an idealized market structure that achieves an efficient allocation of resources. This efficiency is achieved because the profit-maximizing quantity of output produced by a perfectly competitive firm results in the equality between price and marginal cost. In the short run, this involves the equality between price and short-run marginal cost. In the long run, this is seen with the equality between price and long-run marginal cost at the minimum efficient scale of production.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club seeking to buy either a decorative windchime with plastic or a flower arrangement for that special day for your mother. Be on the lookout for gnomes hiding in cypress trees.
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The first U.S. fire insurance company was established by Benjamin Franklin in 1752 in Philadelphia.
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"A ship ought not to be held by one anchor, nor life by a single hope. " -- Epictetus, philosopher
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AOQL
Average Outgoing Quality Limit
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