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HERFINDAHL INDEX: A measure of concentration of the production in an industry that's calculated as the sum of the squares of market shares for each firm. This is an alternative method of summarizing the degree to which an industry is oligopolistic and the relative concentration of market power held by the largest firms in the industry. The Herfindahl index gives a better indication of the relative market control of the largest firms than can be found with the four-firm and eight-firm concentration ratios.
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PRODUCTION STAGES The three stages of production are characterized by the slopes, shapes, and interrelationships of the total, marginal, and average product curves. The first stage is characterized by a positive slope of the average product curve, ending at the intersection between the average product and marginal product curves; the second stage by continues up to the point in which the marginal product becomes negative, at the peak of the total product curve; and the third stage exists over the range of in which the total product curve is negatively sloped. In Stage I, average product is positive and increasing. In Stage II, marginal product is positive, but decreasing. And in Stage III, total product is decreasing.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time at a flea market hoping to buy either a how-to book on building remote controlled airplanes or an extra large beach blanket. Be on the lookout for defective microphones.
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This isn't me! What am I?
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Approximately three-fourths of the U.S. paper currency in circular contains traces of cocaine.
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"My motto was always to keep swinging. Whether I was in a slump or feeling badly or having trouble off the field, the only thing to do was keep swinging. " -- Hank Aaron, baseball player
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TOCOM
Tokyo Commodity Exchange (Japan)
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