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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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Today, you are likely to spend a great deal of time at an auction looking to buy either a green fountain pen or a handcrafted bird house. Be on the lookout for crowded shopping malls.
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Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
"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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