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AAUP: The abbreviation for American Association of University Professors, which is an association of university and college faculty established in 1915 to protect academic freedom. The AAUP is the closest thing university faculty have to a labor union. While it does engage in some collective bargaining functions with specific universities, similar to traditional labor unions, its primary function is to ensure that faculty maintain intellectual or academic freedom from political of social pressures.

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Lesson 4: Production Possibilities | Unit 5: Investment Page: 22 of 24

Topic: Bundle Choices: I <=PAGE BACK | PAGE NEXT=>

Now with bundle I (270 jogging shoes and 8 calibrators).
  • Producing 8 calibrators has added even more to the economy's capital.
  • The cost of these 8 calibrators is 180 pairs of shoes compared to A, and the extra 4 calibrators compared to bundle E is 140 pairs of shoes.
  • These 8 calibrators have increased the quantity of resources even more than bundle E, leading to an even greater shift of production possibilities curve.
  • Tomorrow's production possibilities curve is even farther out than today's curve. There is more growth and a bigger shift in the curve.

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AVERAGE REVENUE CURVE, MONOPOLY

A curve that graphically represents the relation between average revenue received by a monopoly for selling its output and the quantity of output sold. Because average revenue is essentially the price of a good, the average revenue curve is also the demand curve for a monopoly's output.

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APLS

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[What's This?]

Today, you are likely to spend a great deal of time browsing through a long list of dot com websites seeking to buy either high-gloss photo paper that works with your printer or a desktop calendar with all federal and state holidays highlighted. Be on the lookout for deranged pelicans.
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The first paper currency used in North America was pasteboard playing cards "temporarily" authorized as money by the colonial governor of French Canada, awaiting "real money" from France.
"Good judgment comes from experience, and often experience comes from bad judgment."

-- Rita Mae Brown ‚ Writer

MFC
Marginal Factor Cost
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