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RELATIVELY ELASTIC: An elasticity alternative in which relatively small changes in price cause relatively large changes in quantity. In other words, quantity is very responsive to price. Relatively elastic should be compared with other elasticity alternatives--relatively inelastic, perfectly inelastic, perfectly elastic, and unit elastic.

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NORMAL PROFIT

The opportunity cost of using entrepreneurial abilities in the production of a good, or the profit that could be received by entrepreneurship in another business venture. Like the opportunity costs of other resources, normal profit is deducted from revenue to determine economic profit. It is, however, never included as an accounting cost when accounting profit is computed.

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APLS

GREEN LOGIGUIN
[What's This?]

Today, you are likely to spend a great deal of time at an auction looking to buy either clothing for your pet iguana or a set of hubcaps. Be on the lookout for jovial bank tellers.
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This isn't me! What am I?

Al Capone's business card said he was a used furniture dealer.
"Cherish your visions and your dreams as they are the children of your soul; the blue prints of your ultimate achievements."

-- Napoleon Hill, Author

NAIRU
Non-Accelerating Inflation Rate of Unemployment
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