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August 17, 2019 

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MARGINAL REVENUE, MONOPOLISTIC COMPETITION: The change in total revenue received by a monopolistically competitive firm resulting from a change in the quantity of output sold. For a monopolistically competitive firm, marginal revenue is less than the price.

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SUPPLY-SIDE ECONOMICS: A branch of economics that emphasizes the productive capabilities of resources, especially in the context of macroeconomic instability and economic growth. Supply-side economics became popular in the 1980s after several decades of Keynesian "demand-side" economics. Supply-side proponents contended that policies aimed at the demand-side alone, especially fiscal policies, was causing economic stagnation. One note result of supply-side economics was the developed of the aggregate market, which combined existing demand-side economics with the newly emerging focus on the supply-side.

     See also | supply-side policies | supply-management policies | conservative | fiscal policy | aggregate market | Keynesian economics |


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AGGREGATE SUPPLY DETERMINANTS

An assortment of ceteris paribus factors that affect short-run and long-run aggregate supply, but which are assumed constant when the short-run and long-run aggregate supply curves are constructed. Changes in any of the aggregate supply determinants cause the short-run and/or long-run aggregate supply curves to shift. While a wide variety of specific ceteris paribus factors can cause the aggregate supply curves to shift, they are commonly grouped into three broad categories--resource quantity, resource quality, and resource price.

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Today, you are likely to spend a great deal of time at the confiscated property police auction seeking to buy either a birthday gift for your grandmother or a T-shirt commemorating yesterday. Be on the lookout for deranged pelicans.
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Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
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