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HYPOTHESIS: A reasonable proposition about the workings of the world that's inspired or implied by a theory and which may or may not be true. An hypothesis is essentially a prediction made by a theory that can be compared with observations in the real world. Hypotheses usually take the form: "If A, the also B." The essence of the scientific method is to test, or verify, hypotheses against real world data. If supported by data over and over again, hypotheses become principles.
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AVERAGE REVENUE, MONOPOLY 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 monopoly average revenue is greater than marginal revenue. Average revenue for a monopoly is often depicted by a negatively-sloped average revenue curve.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time browsing through a long list of dot com websites hoping to buy either a rechargeable flashlight or storage boxes for your computer software CDs. Be on the lookout for telephone calls from former employers.
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The portrait on the quarter is a more accurate likeness of George Washington than that on the dollar bill.
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"Most battles are won before they are ever fought." -- General George Patton
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AMEX
American Stock Exchange
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