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ASEAN: 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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Lesson 12: Elasticity and Demand | Unit 3: Measurement
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Page: 15 of 25
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From these numbers you can see that: - One, as the price increases from 0 cents per minute to 10 cents per minute, total revenue values increase.
- Two, as the price increases from 10 cents per minute to 20 cents per minute, total revenue values decrease.
- Three, at the price of 10 cents per minute, total revenue is at its maximum value or $500,000.
A few conclusions:- Total revenue increases in the inelastic range of demand when they increase their price.
- Total revenue increases in the elastic range of demand when they decrease their price.
- Total revenue is at the maximum level at the unit elastic point.
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AGGREGATE DEMAND DECREASE, SHORT-RUN AGGREGATE MARKET A shock to the short-run aggregate market caused by a decrease in aggregate demand, resulting in and illustrated by a leftward shift of the aggregate demand curve. A decrease in aggregate demand in the short-run aggregate market results in a decrease in the price level and a decrease in real production. The level of real production resulting from the shock can be greater or less than full-employment real production.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors wanting to buy either pink cotton balls or a genuine down-filled comforter. Be on the lookout for the last item on a shelf.
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The portrait on the quarter is a more accurate likeness of George Washington than that on the dollar bill.
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"Sometimes when you innovate, you make mistakes. It is best to admit them quickly and get on with improving your other innovations. " -- Steve Jobs, Apple Computer founder
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AFC
Average Fixed Cost
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