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QUANTITY: In a market, the amount of a good that is bought, sold, or traded among buyers and sellers. In a standard market diagram, quantity is displayed on the horizontal axis.
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LONG-RUN INDUSTRY SUPPLY CURVE The relation between market price and the quantity supplied by all firms in a perfectly competitive industry after the industry has completed its long-run adjustment. The long-run industry supply curve effectively traces out a series of equilibrium prices and quantities that reflect long-run adjustments of a perfectly competitive industry to demand shocks. This long-run adjustment can take one of three paths, indicating an increasing-cost industry, a decreasing-cost industry, and a constant-cost industry.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time at an auction wanting to buy either a computer that can play video games and burn DVDs or a black duffle bag with velcro closures. Be on the lookout for jovial bank tellers.
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This isn't me! What am I?
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Before 1933, the U.S. dime was legal as payment only in transactions of $10 or less.
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"A genius is a talented person who does his homework." -- Thomas Edison
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G7
Group of Seven
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