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LABOR UNION: An organization of workers or employees who act jointly to negotiate with their employers over wages, fringe benefits, working conditions, and other facets of employment. The main function of unions is to provide a balance for the market control exerted over labor by big business.
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MARGINAL REVENUE The change in total revenue resulting from a change in the quantity of output sold. Marginal revenue indicates how much extra revenue a firm receives for selling an extra unit of output. It is found by dividing the change in total revenue by the change in the quantity of output. Marginal revenue is the slope of the total revenue curve and is one of two revenue concepts derived from total revenue. The other is average revenue. To maximize profit, a firm equates marginal revenue and marginal cost.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time at a garage sale wanting to buy either a 50 foot extension cord or a combination CD player, clock radio, and telephone (with answering machine). Be on the lookout for pencil sharpeners with an attitude.
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This isn't me! What am I?
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The first paper notes printed in the United States were in denominations of 1 cent, 5 cents, 25 cents, and 50 cents.
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"For a writer, published works are like fallen flowers, but the expected new work is like a calyx waiting to blossom." -- Cao Yu, Playwright
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S&D
Supply and Demand
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