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LINE GRAPH: A graph containing one or more lines or curves that are used to represent relations between two (or more) variables. A line graph is a useful method of illustrating scientific principles and hypotheses important for the economic analysis.

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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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Today, you are likely to spend a great deal of time at a flea market seeking to buy either decorative picture frames or storage boxes for your income tax returns. Be on the lookout for a thesaurus filled with typos.
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On a typical day, the United States Mint produces over $1 million worth of dimes.
"We may affirm absolutely that nothing great in the world has been accomplished without passion."

-- Hegel

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