|
|
PARETO IMPROVEMENT: Based on the Pareto efficiency criterion, the notion that an action improves efficiency if it is possible for one person to benefit without anyone else being harmed. A Pareto improvement is possible if the economy has idle resources or market failures. With idle resources, more production is possible to help some without hurting others. With market failures, corrective actions can eliminate deadweight loss that can then be use for benefits economy-wide. A contrasting condition for attaining efficiency is the Kaldor-Hicks improvement.
Visit the GLOSS*arama
|
|
|
|
|
AVERAGE REVENUE, MONOPOLISTIC 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 monopolistically competitive firm average revenue is greater than marginal revenue. Average revenue for a monopolistically competitive firm is often depicted by a negatively-sloped average revenue curve.
Complete Entry | Visit the WEB*pedia |
|
|
BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time searching the newspaper want ads looking to buy either an AC adapter for your CD player or storage boxes for your family photos. Be on the lookout for door-to-door salesmen.
Your Complete Scope
This isn't me! What am I?
|
|
|
One of the largest markets for gold in the United States is the manufacturing of class rings.
|
|
|
"New ideas pass through three periods: - It can't be done. - It probably can be done, but it's not worth doing. - I knew it was a good idea all along!" -- Arthur C. Clarke
|
|
KSE
Korea Stock Exchange
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
