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JOINT PRODUCTION: The simultaneous production of two or more goods from the same resource. For example the production of beef also results in the production of leather and the production of lumber also results in the production of sawdust. Joint production can be beneficial, that is, giving a producer multiple products to sell. But it can also be problematic when one of the joint products is undesirable, such as pollution or waste residuals.
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PRICE LEADERSHIP: A method used by a group of firms in the same market (typically oligopoly firms) in which one firm takes the lead in setting or changing prices, with other firms then following behind. The lead firm is often the largest firm in the industry, but it could be a smaller firm that has just historically assumed the role of price leader perhaps because it is more aware of changing market conditions. While price leadership is totally legal, it could be a sign of collusion, particular implicit collusion, in which the firms have effectively monopolized the market. See also | oligopoly | collusion | price rigidity | kinked-demand curve | nonprice competition | government intervention | antitrust laws |
Recommended Citation:PRICE LEADERSHIP, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: June 16, 2025].
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COMPTROLLER OF THE CURRENCY An agency of the U.S. Federal government responsible for chartering national banks. In other words, anyone wanting to establish a bank with the word "national" in the title must gain permission from the Office of the Comptroller of the Currency (OCC). The Comptroller is also responsible for regulating banks and might even assume control of a bank that is in serious trouble (that is, on the verge of failure). Although the term "currency" appears in the title, the Office of the Comptroller of the Currency is primarily a bank regulator and has almost nothing to do with the nation's "currency." The OCC was established in 1863 as a bureau of the U.S. Department of the Treasury and is located in Washington, D.C.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time at the confiscated property police auction looking to buy either a graduation present for your niece or nephew or a toaster oven that has convection cooking. Be on the lookout for jovial bank tellers.
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Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
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"Be kind and merciful. Let no one ever come to you without coming away better and happier." -- Mother Teresa of Calcutta, humanitarian
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JFE
Journal of Financial Economics
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