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January 20, 2019 

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AR: The abbreviation for average revenue, which is the revenue received for selling a good, per unit of output sold, found by dividing total revenue by the quantity of output. Average revenue actually goes by a simpler and more widely used term... price. Average revenue is really a fancy-schmancy term for the price received by a seller for selling a good. However, using the longer term average revenue let's us see the connection with other terms, like total revenue, marginal revenue, and quantity.

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INVOLUNTARY UNEMPLOYMENT: Unemployment that results when resources which are willing and able to engage in production are not because no one is buying the output they produce. From a macroeconomic perspective, involuntary unemployment results when aggregate demand is not sufficient to purchase all of the output produced by the resources. This is the primary problem of business-cycle contractions. The contrast to involuntary unemployment is voluntary unemployment.

     See also | unemployment | voluntary unemployment | business cycle | contraction | aggregate demand | cyclical unemployment | structural unemployment |


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INVOLUNTARY UNEMPLOYMENT, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2019. [Accessed: January 20, 2019].


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AVERAGE REVENUE CURVE, MONOPOLY

A curve that graphically represents the relation between average revenue received by a monopoly for selling its output and the quantity of output sold. Because average revenue is essentially the price of a good, the average revenue curve is also the demand curve for a monopoly's output.

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ORANGE REBELOON
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Today, you are likely to spend a great deal of time at the confiscated property police auction looking to buy either a pair of red goulashes with shiny buckles or a handcrafted bird feeder. Be on the lookout for letters from the Internal Revenue Service.
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Potato chips were invented in 1853 by a irritated chef repeatedly seeking to appease the hard to please Cornelius Vanderbilt who demanded french fried potatoes that were thinner and crisper than normal.
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