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NET INTEREST: The official item in the National Income and Product Accounts maintained by the Bureau of Economic Analysis measuring interest earned by the household sector for supplying capital services. This is one of five official factor payments making up national income. The other four are compensation of employees, rental income of persons, corporate profits, and proprietors' income. Net interest is usually less than 10% of national income, typically in the 6-8% range.

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Lesson 20: Oligopoly | Unit 5: Evaluation Page: 21 of 24

Topic: The Bad <=PAGE BACK | PAGE NEXT=>

  • Let's consider what is bad about oligopoly.

  • Inefficiency: Like any other firm with market control, oligopoly charges a higher price and produces less output than the efficiency benchmark of perfect competition.

  • Concentration: Another possible problem is that oligopoly tends to increase the concentration of wealth and income.


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AVERAGE PRODUCT CURVE

A curve that graphically illustrates the relation between average product and the quantity of the variable input, holding all other inputs fixed. This curve indicates the per unit output at each level of the variable input. The average product curve is one of three related curves used in the analysis of the short-run production of a firm. The other two are total product curve and marginal product curve.

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ORANGE REBELOON
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Today, you are likely to spend a great deal of time going from convenience store to convenience store trying to buy either a genuine down-filled snow parka or throw pillows for your living room sofa. Be on the lookout for infected paper cuts.
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A lump of pure gold the size of a matchbox can be flattened into a sheet the size of a tennis court!
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