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MARGINAL REVENUE PRODUCT: The change in total revenue resulting from a unit change in a variable input, keeping all other inputs unchanged. Marginal revenue product, usually abbreviated MRP, is found by dividing the change in total revenue by the change in the variable input. This is also termed value of the marginal product. Marginal revenue product is a key component for understanding the demand for productive inputs (that is, factor demand).
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ALLOCATIVE EFFICIENCY Obtaining the most consumer satisfaction from available resources. In other words, resources are allocated in such a way that consumer satisfaction is at its highest possible level. This is also termed either efficiency or economic efficiency.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time at a crowded estate auction hoping to buy either a black duffle bag with velcro closures or any book written by Isaac Asimov. Be on the lookout for fairy dust that tastes like salt.
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This isn't me! What am I?
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The word "fiscal" is derived from a Latin word meaning "moneybag."
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"I do the best I know how, the very best I can, and I mean to keep doing so until the end. " -- Abraham Lincoln, 16th US president
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CPS
Current Population Survey (US)
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