
COMPOUND INTEREST: Interest that's added to a principal at regular intervals such that each subsequent interest calculation is based on the original principal and the added interest. For example, suppose you have a $100 savings account that pays 5 percent interest. Without compound interest, such that your 5 percent interest is paid only at the end of a year, you will have exactly $105 in one year. However, if your interest is compounded each month you end up with $105.12 after a year. The extra 12 cents comes from interest on the interest paid the first month, interest on the interest paid the second month, interest on the interest paid the third month... well I could go on.
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Lesson Contents

Unit 1: Intro 
Unit 2: Structure 
Unit 3: Behavior 
Unit 4: Analysis 
Unit 5: Evaluation 

Oligopoly
 The first unit of this lesson, A Few Firms, begins this lesson with a look at the nature of oligopoly and how it is related to other market structures.
 In the second unit, Structure, we see how markets with a small number of large firms are structured.
 The third unit, Behavior, then looks at some of activities undertaken by oligopoly that are not seen in other market structures.
 In the fourth unit, Some Graphs, we use a few graphs to examine different ways that oligopoly firms interact in the production of output.
 The fifth and final unit, Taking Stock, then closes this lesson by considering the good and the bad of oligopoly and why it is often prone to government scrutiny.



PROFIT CURVE A curve that graphically represents the relation between the economic profit earned by a firm and the quantity of output sold. This curve is constructed to capture the relation between profit and the level of output, holding other variables, especially those affecting the total revenue and total cost curves, constant. The profit curve is commonly used to illustrate the profitmaximizing quantity of output produced by a firm.
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BEIGE MUNDORTLE [What's This?]
Today, you are likely to spend a great deal of time browsing about a thrift store hoping to buy either 500 feet of telephone cable or a package of 4 by 6 index cards, the ones with lines. Be on the lookout for jovial bank tellers. Your Complete Scope
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North Carolina supplied all the domestic gold coined for currency by the U.S. Mint in Philadelphia until 1828.


"If football taught me anything about business, it is that you win the game one play at a time."  Fran Tarkenton, Football Player


VES Variable Elasticity of Substitution


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