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ASSOCIATION OF SOUTHEAST ASIAN NATIONS: The Association of Southeast Asian Nations (ASEAN) is a subregional organization established in 1967 in Bangkok by the five original Member Countries: Indonesia, Malaysia, Philippines, Singapore, and Thailand. Brunei Darussalam joined in 1984, Vietnam in 1995, Laos and Myanmar in 1997, and Cambodia in 1999. The aims and purposes of the Association are to accelerate the economic growth, social progress and cultural development in the region and to promote regional peace and stability through abiding respect for justice and the rule of law.
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KINKED-DEMAND CURVE ANALYSIS An analysis using the kinked-demand curve to explain rigid prices often found with oligopoly. The kinked-demand curve contains two distinct segments--one for higher prices that is more elastic and one for lower prices that is less elastic. Key to this analysis is that the corresponding marginal revenue curve contains three segments--one associated with the more elastic segment, one associated with the less elastic segment, and one associated with the kink. A profit-maximizing firm can then equate marginal cost to a wide range of marginal revenue values along the vertical segment of the marginal revenue curve. This suggests that marginal cost must change significantly before an oligopolistic firm is inclined to change price.
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ORANGE REBELOON
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Today, you are likely to spend a great deal of time searching the newspaper want ads trying to buy either a 200-foot blue garden hose or a video camera with stop action features. Be on the lookout for broken fingernail clippers.
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The wealthy industrialist, Andrew Carnegie, was once removed from a London tram because he lacked the money needed for the fare.
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"There's only one corner of the universe you can be certain of improving and that's your own self. " -- Aldous Huxley, writer
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ASX
Australian Stock Exchange
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