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INDUSTRY: A group of firms producing goods or services that are close substitutes-in-consumption. The similarity of the products makes it possible to analyze the production in a market framework. An industry can be broadly defined, such as the manufacturing industry, or narrowly specified, such as the root beer industry. For most economic analysis the term industry is used interchangeably with the term market.
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AVERAGE REVENUE, MONOPOLY The revenue received for selling a good per unit of output sold, found by dividing total revenue by the quantity of output. Average revenue often goes by a simpler and more widely used term... price. For a monopoly average revenue is greater than marginal revenue. Average revenue for a monopoly is often depicted by a negatively-sloped average revenue curve.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time going from convenience store to convenience store wanting to buy either a weathervane with a chicken on top or a flower arrangement with daisies and carnations for your uncle. Be on the lookout for neighborhood pets, especially belligerent parrots.
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A U.S. dime has 118 groves around its edge, one fewer than a U.S. quarter.
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"Believe and act as if it were impossible to fail." -- Charles F. Kettering
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EBIT
Earnings Before Interest and Taxes
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