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April 24, 2018 

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INTER-AMERICAN DEVELOPMENT BANK: A regional multilateral development institution established 1959 to help accelerate economic and social development in Latin America and the Caribbean. The Bank provides loans and technical assistance using capital provided by its member countries, as well as resources obtained in world capital markets through bond issues. The Bank is owned by its 46 member countries: 26 borrowing member countries in Latin America and the Caribbean, and 20 nonborrowing countries, including the United States, Japan, Canada, 16 European countries, and Israel. The Inter-American Development Bank has its headquarters in Washington, DC.

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CONSUMER EQUILIBRIUM: The condition that exists when the last dollar spent on one good provides the same marginal utility as the last dollar spent on every other good. In consumer equilibrium, you allocate income between the purchase of different goods in such a way that you cannot increase your level of utility, that is, you have achieved utility maximization. In indifference curve analysis, this occurs where the budget line is tangent to the highest reachable indifference curve. With this consumption bundle, the ratio of prices is equal to the ratio of marginal utilities. This means that the willingness of the consumer to trade one good for the other is exactly the same as the ability to trade the two goods in the market.

     See also | marginal utility | utility | consumer demand theory | utility maximization | budget line | indifference curve |


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CONSUMER EQUILIBRIUM, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2018. [Accessed: April 24, 2018].


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CONSTANT-COST INDUSTRY

A perfectly competitive industry with a horizontal long-run industry supply curve that results because expansion of the industry causes no change in production cost or resource prices. A constant-cost industry occurs because the entry of new firms, prompted by an increase in demand, does not affect the long-run average cost curve of individual firms, which means the minimum efficient scale of production does not change.

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Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors seeking to buy either a birthday greeting card for your grandmother or a coffee cup commemorating yesterday. Be on the lookout for empty parking spaces that appear to be near the entrance to a store.
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Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
"You have to find something that you love enough to be able to take risks, jump over the hurdles and break through the brick walls that are always going to be placed in front of you. If you don't have that kind of feeling for what it is you're doing, you'll stop at the first giant hurdle. "

-- George Lucas

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