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OTHER PRICES: A handy term referring to the prices of other goods that affect either the demand for a good or the supply of the good. On the demand side, other prices can be those for substitutes-in-consumption or complements-in-consumption. On the supply side, other prices can be those for either substitutes-in-production or complements-in-production. Changes in other prices cause shifts in the corresponding demand or supply curves.
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BILATERAL MONOPOLY, FACTOR MARKET ANALYSIS The analysis of a factor market characterized by monopsony dominating the buying side and monopoly dominating the selling side indicates that the factor price and quantity exchanged depends on the negotiating power of each side. Ironically, the factor price is likely to be closer to the efficient price achieved with perfect competition than that achieved individually by either monopsony or monopoly.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time lost in your local discount super center hoping to buy either a weathervane with a horse on top or a case of blank recordable DVDs. Be on the lookout for telephone calls from former employers.
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This isn't me! What am I?
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Al Capone's business card said he was a used furniture dealer.
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"No great performance ever came from holding back. " -- Don Greene, motivational coach, former Green Beret
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VAT
Value Added Tax
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