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PPF: The abbreviation for production possibilities frontier, which is a curve that illustrates the production possibilities for the economy. A production possibilities frontier represents the boundary or frontier of the economy's production capabilities. That's why it's termed a production possibilities frontier (or PPF). As a frontier, it is the maximum production possible given existing (fixed) resources and technology. Producing on the curve means resources are fully employed, while producing inside the curve means resources are unemployed. The law of increasing opportunity cost is what gives the curve its distinctive convex shape.
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SECOND-DEGREE PRICE DISCRIMINATION A form of price discrimination in which a seller charges different prices for different quantities of a good. This also goes by the name block pricing. Second-degree price discrimination is possible because decidedly different quantities are purchased by different types of buyers with different demand elasticities. This is one of three price discrimination degrees. The others are first-degree price discrimination and third-degree price discrimination.
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BEIGE MUNDORTLE
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Today, you are likely to spend a great deal of time strolling through a department store seeking to buy either a turbo-powered vacuum cleaner or a battery-powered, rechargeable vacuum cleaner. Be on the lookout for malfunctioning pocket calculators.
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The 1909 Lincoln penny was the first U.S. coin with the likeness of a U.S. President.
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"Failure will never overtake me if my determination to succeed is strong enough." -- Og Mandino, Author and Speaker
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