|
|
EQUILIBRIUM, LONG-RUN AGGREGATE MARKET: The state of equilibrium that exists in the long-run aggregate market when real aggregate expenditures are equal to full employment real production with no imbalances to induce changes in the price level or real production. The opposing forces of aggregate demand (the buyers) and long-run aggregate supply (the sellers) exactly offset each other. Equilibrium in the long-run aggregate market also involves simultaneous equilibrium in the aggregated financial and resource markets. Long-run price flexibility ensures that all three aggregate markets are in equilibrium.
Visit the GLOSS*arama
|
|
|
|
|
PERFECT COMPETITION, SHORT-RUN SUPPLY CURVE A perfectly competitive firm's supply curve is that portion of its marginal cost curve that lies above the minimum of the average variable cost curve. A perfectly competitive firm maximizes profit by producing the quantity of output that equates price and marginal cost. As such, the firm moves along its positively-sloped marginal cost curve in response to changing prices.
Complete Entry | Visit the WEB*pedia |
|
|
BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time watching the shopping channel hoping to buy either a large, stuffed kitty cat or a cross-cut paper shredder. Be on the lookout for pencil sharpeners with an attitude.
Your Complete Scope
This isn't me! What am I?
|
|
|
Much of the $15 million used by the United States to finance the Louisiana Purchase from France was borrowed from European banks.
|
|
|
"Confidence . . . thrives on honesty, on honor, on the sacredness of obligations, on faithful protection and on unselfish performance. Without them it cannot live." -- President Franklin Delano Roosevelt
|
|
SBDC
Small Business Development Center
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
