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KILLER APPLICATION: A computer program that is so incredibly useful, popular, and profitable that the company responsible for development achieves enormous growth in a relatively short time period. Several computer companies developed killer applications during the 1980s and 1990s, which contributed greatly to the computer revolution. The Lotus 1-2-3 spreadsheet program was among the first, and perhaps most noted, killer applications. This program motivated millions of businesses and consumers in the early 1980ds to purchase personal computers.
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Lesson 18: Monopoly | Unit 4: Evaluation
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Page: 25 of 30
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Topic:
Short-Run Supply?
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- A monopoly will not have a short-run supply curve.
- The law of supply states that a direct relation exists between supply price and the quantity supplied, ceteris paribus.
- Perfect competition, by way of contrast, DOES have a short-run supply curve.
- A perfectly competitive firm's short run supply curve is that segment of it's marginal cost curve that lies above the average variable cost curve.
- The reason for this short-run supply curve difference perfect competition and monopoly is market control.
- The price-quantity supply curve relation for perfect competition is based on the law of diminishing marginal returns.
The bottom line is that monopoly does not have a short-run supply curve.
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BALANCE OF PAYMENTS A comprehensive set of accounts that tracks the flow of currency and other monetary assets coming in to and going out of a nation. These payments are used for international trade, foreign investments, and other financial activities. The balance of payments is divided into two accounts -- current account (which includes payments for imports, exports, services, and transfers) and capital account (which includes payments for physical and financial assets). A deficit in one account is matched by a surplus in the other account. The balance of trade is only one part of the overall balance of payments set of 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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Much of the $15 million used by the United States to finance the Louisiana Purchase from France was borrowed from European banks.
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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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AAXICO
American Air Export and Import Company
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