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MARGINAL REVENUE CURVE, MONOPOLISTIC COMPETITION: A curve that graphically represents the relation between marginal revenue received by a monopolistically competitive firm for selling its output and the quantity of output sold. The marginal revenue curve reflects the degree of market control held by a firm. For a monopolistically competitive firm with some market control, but not a whole lot, the marginal revenue curve is negatively-sloped but relatively elastic.
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CAUSE AND EFFECT The notion that every event in the universe is the direct result of a preceding event, that one event A causes another event B. The purpose of the scientific method is to identify these cause-and-effect relations. This pursuit is based on a simple point of view: everything happens for a reason. For every action there is a consequence. And for every consequence there is a cause.
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Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
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"Before you can inspire with emotion, you must be swamped with it yourself. Before you can move their tears, your own must flow. To convince them, you must yourself believe." -- Sir Winston Churchill
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TIFFE
Tokyo International Financial Futures Exchange (Japan)
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