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GROWTH RATE OF PRODUCTION: The percentage change in (usually real) gross domestic product from one year to the next. This is used to indicate the degree of progress or economic growth of an economy.
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Lesson 18: Monopoly | Unit 3: Output
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Page: 17 of 30
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Topic:
Marginal Numbers
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- Analysis of monopoly production in the short run also can be had with a comparison of marginal revenue and marginal cost values.
- These two marginal measures are presented in the fourth and sixth columns.
- Marginal Revenue (MR): The fourth column displays marginal revenue, which declines from a high of $10 per unit for the first unit to a low of -$1 per unit for the twelfth unit.
- Marginal Cost (MC): The sixth column presents the marginal cost. It starts at $7, declines to a low of $3.50, the rises again to $25.
- The monopoly would produce 7 units, where marginal revenue and marginal cost are equal.
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SHARE DRAFT ACCOUNTS Interest-paying checking accounts maintained by credit unions. These function much like standard demand deposit checking accounts in that the funds can be withdrawn "on demand" by writing a check, but an interest is paid on the outstanding balance. Share draft accounts are one type of checkable deposits. Others are demand deposits (standard checking accounts), negotiable order of withdrawal (NOW) accounts, and automatic transfer service (ATS) accounts.
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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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Natural gas has no odor. The smell is added artificially so that leaks can be detected.
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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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