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May 26, 2015 

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MARGINAL REVENUE PRODUCT: The change in total revenue resulting from a unit change in a variable input, keeping all other inputs unchanged. Marginal revenue product, usually abbreviated MRP, is found by dividing the change in total revenue by the change in the variable input. This is also termed value of the marginal product. Marginal revenue product is a key component for understanding the demand for productive inputs (that is, factor demand).

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COLLUSION PRODUCTION ANALYSIS

To avoid competition, oligopolistic firms are occasionally inclined to cooperate through collusion. Collusion occurs when two or more oligopolistic firms jointly agree to control market prices and quantity and to generally act like a monopoly. Colluding firms set a price and produce a quantity that maximizes industry-wide economic profit, the same price and quantity that would be selected by a profit-maximizing monopoly. Once the industry-wide price and production are determined, each individual firm produces the quantity of output that equates the marginal cost of the firm to the marginal revenue for the industry.

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The Sick State Of HEALTH CARE

Our pedestrian's guide to the economy would be remiss if we failed to stroll past the Shady Valley Memorial Hospital and my very own physician's place of business, the Dr. Dowrimple T. Bedside Family Clinic, to examine the considerable controversy over health care. A debate has raged for years over health care in the United States, including, but not limited to, the quality of services, their cost, their slice of the economic pie, who pays, who doesn't, and who should.
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APLS

State of the ECONOMY

Consumer Price Index W
September 2014
234.170
Up minimally in 1 month Source: B L S

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WHITE GULLIBON
[What's This?]

Today, you are likely to spend a great deal of time at a flea market trying to buy either several magazines on computer software or a T-shirt commemorating the second moon landing. Be on the lookout for celebrities who speak directly to you through your television.
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This isn't me! What am I?

Natural gas has no odor. The smell is added artificially so that leaks can be detected.
"Try not to become a man of success, but rather try to become a man of value. "

-- Albert Einstein

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