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MARGINAL REVENUE, MONOPOLISTIC COMPETITION: The change in total revenue received by a monopolistically competitive firm resulting from a change in the quantity of output sold. For a monopolistically competitive firm, marginal revenue is less than the price.
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TECHNICAL EFFICIENCY Obtaining the greatest possible production of goods and services from available resources. In other words, resources are not wasted in the production process. This is also considered as engineering efficiency and should be contrasted with economic or allocative efficiency.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time watching infomercials hoping to buy either an AC adapter for your CD player or storage boxes for your family photos. Be on the lookout for telephone calls from long-lost relatives.
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The first "Black Friday" on record, a friday marked by a major financial catastrophe, occurred on September 24, 1869 -- A FRIDAY -- when an attempted cornering of the gold market induced a financial crises and economy-wide depression.
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"Inside the ring or out, ain't nothing wrong with going down. It's staying down that's wrong. " -- Muhammad Ali
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IMF
International Monetary Found
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