Google
Tuesday 
February 3, 2026 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
LONG-RUN ADJUSTMENT, PERFECT COMPETITION: The combined adjustment of a perfectly competitive industry and of each firm in the industry to an equilibrium condition that eliminates all economic profits and losses, while each firm selects a factor size that maximizes profit. This adjustment process involves two parts. One is the adjustment of each perfectly competitive firm to the appropriate factory size that maximizes long-run profit. The other is the entry of firms into the industry or exit of firms out of the industry, to eliminated economic profits or economic losses. The end result of this long-run adjustment is a multi-faceted equilibrium condition: P = AR = MR = MC = LRMC = ATC = LRAC

Visit the GLOSS*arama

Most Viewed (Number) Visit the WEB*pedia

OWNERSHIP AND CONTROL

Having simultaneous legal "title" to a resource, good, or commodity and the ability to determine how the resource, good, or commodity is used. Ownership means that having legal title. Control means having the ability to determine use.

Complete Entry | Visit the WEB*pedia


APLS

GREEN LOGIGUIN
[What's This?]

Today, you are likely to spend a great deal of time at the confiscated property police auction hoping to buy either a desktop calendar with all federal and state holidays highlighted or a half-dozen helium filled balloons. Be on the lookout for telephone calls from long-lost relatives.
Your Complete Scope

This isn't me! What am I?

Mark Twain said "I wonder how much it would take to buy soap buble if there was only one in the world."
"There is a way to look at the past. Don't hide from it. It will not catch you - if you don't repeat it."

-- Pearl Bailey, Singer and Actress

NEDC
National Economic Development Council
A PEDestrian's Guide
Xtra Credit
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



| AmosWEB | WEB*pedia | GLOSS*arama | ECON*world | CLASS*portal | QUIZ*tastic | PED Guide | Xtra Credit | eTutor | A*PLS |
| About Us | Terms of Use | Privacy Statement |

Thanks for visiting AmosWEB
Copyright ©2000-2026 AmosWEB*LLC
Send comments or questions to: WebMaster