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DETERMINANT: A ceteris paribus factor that is held constant when a curve is constructed. Changes in these factors then cause the curve to shift to a new location. The most common determinants are demand determinants for the demand curve (income, preferences, other prices, buyers' expectations, and number of buyers) and supply determinants for the supply curve (resource prices, technology, other prices, buyers' expectations, and number of buyers). Other common curves and their determinants include: production possibilities curve (technology, education and the quantities of labor, capital, land, and entrepreneurship); aggregate demand curve (the four aggregate expenditures of consumption, investment, government purchases, and net exports); and short-run average cost curve (technology, wages, and other production cost).
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AVERAGE REVENUE, PERFECT 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 perfectly competitive firm average revenue is also equal to marginal revenue. Average revenue for a perfectly competitive firm is often depicted by a horizontal average revenue curve.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time lost in your local discount super center looking to buy either a black duffle bag with velcro closures or any book written by Isaac Asimov. Be on the lookout for infected paper cuts.
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This isn't me! What am I?
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The average bank teller loses about $250 every year.
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"Success is the child of audacity. " -- Benjamin Disraeli, British statesman
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PRO RATA
According to the Rate (Latin)
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