|
|
PERFECT COMPETITION, PROFIT MAXIMIZATION: A perfectly competitive firm is presumed to produce the quantity of output that maximizes economic profit--the difference between total revenue and total cost. This production decision can be analyzed directly with economic profit, by identifying the greatest difference between total revenue and total cost, or by the equality between marginal revenue and marginal cost.
Visit the GLOSS*arama
|
|
|
|
                          
STABLE EQUILIBRIUM: An equilibrium that is restored if disrupted by an external force. This should be contrasted with unstable equilibrium. Most equilibria studied in economics are of the stable variety. The most common example is market equilibrium. Should the existing market equilibrium be disrupted by a change in one of the demand or supply determinants, the resulting shortage or surplus causes the price to change, which causes changes in quantity demanded and quantity supplied needed to restore equilibrium. The new equilibrium may by, and probably is, at a different equilibrium price and quantity, but it is equilibrium, and it will remain there until disrupted by an external force. See also | equilibrium | unstable equilibrium | disequilibrium | market equilibrium | demand determinants | supply determinants | shortage | surplus | equilibrium price | equilibrium quantity |
Recommended Citation:STABLE EQUILIBRIUM, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2018. [Accessed: April 26, 2018].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: stable equilibrium
Search Again?
Back to the GLOSS*arama
|
|
|
PERSONAL CONSUMPTION EXPENDITURES The official item in the National Income and Product Accounts maintained by the Bureau of Economics Analysis that measures household consumption expenditures on gross domestic product. Personal consumption expenditures are far and away the largest and most stable of the four expenditures, averaging about 65 to 70 percent of gross domestic product. The other official expenditures included in the National Income and Product Accounts are gross private domestic investment, government consumption expenditures and gross investment, and net exports of goods and services.
Complete Entry | Visit the WEB*pedia |
|
|
GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway looking to buy either an AC adapter that won't fry your computer or a case for your designer sunglasses. Be on the lookout for slow moving vehicles with darkened windows.
Your Complete Scope
This isn't me! What am I?
|
|
|
There were no banks in colonial America before the U.S. Revolutionary War. Anyone seeking a loan did so from another individual.
|
|
|
"Sometimes when you innovate, you make mistakes. It is best to admit them quickly and get on with improving your other innovations. " -- Steve Jobs, Apple Computer founder
|
|
TGE
Tokyo Grain Exchange (Japan)
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
