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FOR WHOM?: One of three basic questions of allocation (What? and How? are the other two). Answering the "For Whom?" question of allocation determines who receives the goods that society produces with limited resources. Answering the "For Whom" question involves related questions such as, should goods be distributed to people according to incomes and ability to buy (contributive standard), wants and needs (needs standard), political affiliation, or some other criterion (perhaps equality standard)?
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AVERAGE REVENUE CURVE, MONOPOLISTIC COMPETITION A curve that graphically represents the relation between average revenue received by a monopolistically competitive firm for selling its output and the quantity of output sold. Because average revenue is essentially the price of a good, the average revenue curve is also the demand curve for a monopolistically competitive firm's output.
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The 22.6% decline in stock prices on October 19, 1987 was larger than the infamous 12.8% decline on October 29, 1929.
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"Nothing will ever be attempted if all possible objections must first be overcome. " -- Samuel Johnson, essayist, critic, lexicographer
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IQ
Import Quota
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