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ALLOCATIVE EFFICIENCY: Obtaining the most consumer satisfaction from available resources. Allocative efficiency means that our economy is doing the best job possible of satisfying unlimited wants and needs with limited resources -- that is, of addressing the problem of scarcity.

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AVERAGE REVENUE, PERFECT COMPETITION

The revenue received for selling a good per unit of output sold, found by dividing total revenue by the quantity of output. Average revenue often goes by a simpler and more widely used term... price. For a perfectly competitive firm average revenue is also equal to marginal revenue. Average revenue for a perfectly competitive firm is often depicted by a horizontal average revenue curve.

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APLS

BLACK DISMALAPOD
[What's This?]

Today, you are likely to spend a great deal of time calling an endless list of 800 numbers seeking to buy either a graduation present for your niece or nephew or a toaster oven that has convection cooking. Be on the lookout for poorly written technical manuals.
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This isn't me! What am I?

A U.S. dime has 118 groves around its edge, one fewer than a U.S. quarter.
"Look at everything as though you were seeing it either for the first or last time. Then your time on earth will be filled with glory."

-- Betty Smith, Novelist

ANOVA
Analysis of Variance
A PEDestrian's Guide
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