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December 19, 2018 

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S&P 500: The abbreviation for the Standard & Poor's 500, an index of the prices of 500 corporate stocks traded on the New York Stock Exchange. It includes an assortment of stocks for industrial, transportation, and utility companies. It also includes a larger number of stocks than the comparable Dow Jones composite index, which means it's often considered a better measure of the overall performance of the stock market. Less commonly publicized are separate Standard & Poor's indexes for industrial, transportation, utility, and financial stocks.

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PER UNIT TAX: A tax that is specified as a fixed amount for each unit of a good sold. Federal excise taxes on gasoline and cigarettes fall into this per unit tax category.

     See also | tax | market | tax incidence | ad valorem tax | excise tax |


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PER UNIT TAX, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2018. [Accessed: December 19, 2018].


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PERFECT COMPETITION, SHORT-RUN PRODUCTION ANALYSIS

A perfectly competitive firm produces the profit-maximizing quantity of output that equates marginal revenue and marginal cost. This production level can be identified using total revenue and cost, marginal revenue and cost, or profit. Because a perfectly competitive firm faces a perfectly elastic demand curve, it efficiently allocates resources by equating price and marginal cost. In addition, the marginal cost curve above the average variable cost curve is the perfectly competitive firm's short-run supply curve.

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Today, you are likely to spend a great deal of time at a dollar discount store trying to buy either blue cotton balls or a genuine down-filled pillow. Be on the lookout for pencil sharpeners with an attitude.
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A scripophilist is one who collects rare stock and bond certificates, usually from extinct companies.
"How wonderful it is that nobody need wait a single moment before starting to improve the world. "

-- Anne Frank, diarist

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