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September 23, 2018 

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ADVERTISING: Information provided about a product by a company to promote or maintain sales, revenue, and or profit. Advertising is often an explicit method of signalling that sellers use to provide information to buyers. The primary objective of advertising from the sellers perspective is to increase (or at least maintain) demand for a product. To accomplish this objective advertising provides buyers with two important types of information -- prices and product quality.

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DEMAND CURVE: A graphical representation of the relationship between the demand price and quantity demanded (that is, the law of demand), holding all ceteris paribus demand determinants constant.

     See also | demand | demand price | quantity demanded | law of demand | ceteris paribus | demand determinants | demand space | demand shock | supply curve | market |


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DEMAND CURVE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2018. [Accessed: September 23, 2018].


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PERFECT COMPETITION, SHUTDOWN

A perfectly competitive firm is presumed to shutdown production and produce no output in the short run, if price is less than average variable cost. This is one of three short-run production alternatives facing a firm. The other two are profit maximization (if price exceeds average total cost) and loss minimization (if price is greater than average variable cost but less than average total cost).

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BLUE PLACIDOLA
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Today, you are likely to spend a great deal of time driving to a factory outlet trying to buy either a set of serrated steak knives, with durable plastic handles or a pair of blue silicon oven mitts. Be on the lookout for fairy dust that tastes like salt.
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The portrait on the quarter is a more accurate likeness of George Washington than that on the dollar bill.
"People of mediocre ability sometimes achieve outstanding success because they don't know when to quit. "

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