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TP: The abbreviation for total product, which is the total quantity of output produced by a firm for a given quantity of inputs. Total product is the foundation upon which the analysis of short-run production for a firm is analyzed. The usual framework is to analyze total product when in a variable input (labor) changes, for a given amount of a fixed input (capital). Two related concepts derived from total product are average product and marginal product.

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AVERAGE REVENUE CURVE: A curve that graphically represents the relation between average revenue received by a firm for selling its output and the quantity of output sold. Because average revenue is essentially the price of a good, the average revenue curve (in most circumstances) is also the demand curve for a firm's output. This curve is constructed to capture the relation between average revenue and the level of output, holding other variables constant.

     See also | curve | average revenue | demand curve | total revenue | quantity | price | marginal revenue | average revenue product | market structure | perfect competition | monopoly | market control | price taker | price maker | elasticity | average total cost curve |


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AVERAGE REVENUE CURVE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: July 9, 2025].


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AGGREGATE DEMAND INCREASE, LONG-RUN AGGREGATE MARKET

A shock to the long-run aggregate market caused by an increase in aggregate demand resulting in and illustrated by a rightward shift of the aggregate demand curve. An increase in aggregate demand in the long-run aggregate market results in an increase in the price level but no change in real production. The level of real production resulting from the aggregate demand shock is full-employment real production.

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Today, you are likely to spend a great deal of time going from convenience store to convenience store seeking to buy either a birthday gift for your grandmother or a T-shirt commemorating yesterday. Be on the lookout for the last item on a shelf.
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A scripophilist is one who collects rare stock and bond certificates, usually from extinct companies.
"All labor that uplifts humanity has dignity and importance and should be undertaken with painstaking excellence. "

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