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DIVISIBILITY: One of four characteristics that enables an asset to better function as money. The other three are durability, transportablity, and non-counterfeitability. This characteristic means that the item used as money can be easily divided into small increments so that it can match commodity values more precisely.

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PERFECT COMPETITION, SHUTDOWN

A perfectly competitive firm is presumed to shutdown production and produce no output in the short run, if price is less than average variable cost. This is one of three short-run production alternatives facing a firm. The other two are profit maximization (if price exceeds average total cost) and loss minimization (if price is greater than average variable cost but less than average total cost).

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APLS

RED AGGRESSERINE
[What's This?]

Today, you are likely to spend a great deal of time searching for a specialty store wanting to buy either a package of blank rewritable CDs or yellow cotton balls. Be on the lookout for defective microphones.
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Before 1933, the U.S. dime was legal as payment only in transactions of $10 or less.
"The time your game is most vulnerable is when you're ahead; never let up. "

-- Rod Laver, Tennis player

MPC
Marginal Propensity to Consume
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