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SHORT-RUN SUPPLY CURVE, MONOPOLY: Market control by a monopoly firm means that it does not have a supply relation between the quantity of output produced and the price. By way of comparison a perfectly competitive firm does have a short-run supply curve. Market control by a monopoly means that it price is NOT equal to marginal revenue, and thus it does NOT equate marginal cost and price. As such, a monopoly firm does not move along it's marginal cost curve. A monopoly does not necessarily supply larger quantities at higher prices or smaller quantities at lower prices.
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AGGREGATE EXPENDITURES EQUATION An equation that summarizes the four aggregate expenditures on gross domestic product by the four macroeconomic sectors. In the study of Keynesian economics, this equation is commonly used to summarize the demand side of the macroeconomy. The aggregate expenditures equation actually comes in three different versions depending on how many of the four sectors and their expenditures are included.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time driving to a factory outlet hoping to buy either a wall poster commemorating the moon landing or storage boxes for your winter clothes. Be on the lookout for pencil sharpeners with an attitude.
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This isn't me! What am I?
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A lump of pure gold the size of a matchbox can be flattened into a sheet the size of a tennis court!
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"After climbing a great hill, one finds many more hills to climb. " -- Nelson Mandela, president of South Africa
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BQ
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