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SHORT-RUN SUPPLY CURVE, MONOPOLY: Market control by a monopoly firm means that it does not have a supply relation between the quantity of output produced and the price. By way of comparison a perfectly competitive firm does have a short-run supply curve. Market control by a monopoly means that it price is NOT equal to marginal revenue, and thus it does NOT equate marginal cost and price. As such, a monopoly firm does not move along it's marginal cost curve. A monopoly does not necessarily supply larger quantities at higher prices or smaller quantities at lower prices.
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PROPRIETORS' INCOME: The excess of revenue over explicit production cost of owner-operated businesses. While proprietorships are the namesake and most important contributory to proprietors' income, many partnerships are also included. Because proprietors or partners of owner-operated businesses generally supply several factors of production--labor, capital, land, and entrepreneurship--without explicitly paying for each factor separately, the income received by the owners usually include wage, interest, rent, and profit payments. However, in most it's virtually impossible to identify what portion of the owners income is payment for each factor, so they are combined as proprietors' income. See also | wage | interest | rent | profit | factor payments | National Income and Product Accounts | Bureau of Economic Analysis | national income | compensation of employees | net interest | corporate profits | rental income of persons |
Recommended Citation:PROPRIETORS' INCOME, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2026. [Accessed: February 9, 2026].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: proprietors' income
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MARGINAL PRODUCTIVITY THEORY A theory used to analyze the profit-maximizing quantity of inputs (that is, the services of factor of productions) purchased by a firm in the production of output. Marginal-productivity theory indicates that the demand for a factor of production is based on the marginal product of the factor. In particular, a firm is generally willing to pay a higher price for an input that is more productive and contributes more to output. The demand for an input is thus best termed a derived demand.
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Today, you are likely to spend a great deal of time wandering around the shopping mall seeking to buy either a wall poster commemorating the 2000 Olympics or a flower arrangement with a lot of roses for your grandmother. Be on the lookout for small children selling products door-to-door.
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Much of the $15 million used by the United States to finance the Louisiana Purchase from France was borrowed from European banks.
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