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DEMAND PRICE: The maximum price that buyers would be willing and able to pay for a given quantity of a good. The emphasis here is on maximum. As a general rule buyers have an upper limit to the price that they would be willing to pay for a good. As an upper limit, they would gladly go lower.
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INPUT: The resources or factors of production used in the production of a firm's output. This term is most frequently associated with the analysis of short-run production, and is often modified by the terms fixed and variable, as in fixed input and variable input. In the short run, the quantity of a fixed input can not be changed, meaning it can not be used to expand output. In contrast, a variable input can be changed, making it THE means of expanding output in the short run. See also | resources | factors of production | short-run production | fixed input | variable input | output | production | law of diminishing marginal returns | marginal product | average product | total product |
Recommended Citation:INPUT, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2019. [Accessed: August 22, 2019].
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AVERAGE REVENUE, MONOPOLISTIC COMPETITION The revenue received for selling a good per unit of output sold, found by dividing total revenue by the quantity of output. Average revenue often goes by a simpler and more widely used term... price. For a monopolistically competitive firm average revenue is greater than marginal revenue. Average revenue for a monopolistically competitive firm is often depicted by a negatively-sloped average revenue curve.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store trying to buy either a tall storage cabinet with five shelves and a secure lock or a birthday greeting card for your grandmother. Be on the lookout for cardboard boxes.
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The 22.6% decline in stock prices on October 19, 1987 was larger than the infamous 12.8% decline on October 29, 1929.
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"The roots of education are bitter, but the fruit is sweet." -- Aristotle, Greek philosopher
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SELA
Latin American Economic System
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