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QUASI-PUBLIC CORPORATION: A business activity that is privately controlled, but authorized by government legislation. The Federal National Mortgage Association is one example. Quasi-public corporations are set up when governments expand their activities and/or divest themselves of current government functions. Quasi-public corporations often result because governments seek to promote a particular activity, such as student loans, low cost home mortgages, or lotteries, but do not want the administrative burden.
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PERFECT COMPETITION, DEMAND The demand curve for the output produced by a perfectly competitive firm is perfectly elastic at the going market price. The firm can sell all of the output that it wants at this price because it is a relatively small part of the market. As a price taker, the firm has no ability to charge a higher price and no reason to charge a lower one. The market price facing a perfectly competitive firm is also average revenue and, most important, marginal revenue.
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The penny is the only coin minted by the U.S. government in which the "face" on the head looks to the right. All others face left.
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"The difference between the impossible and the possible lies in a person's determination. " -- Tommy Lasorda
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NYMEX
New York Mercantile Exchange
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