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MARGINAL REVENUE: The change in total revenue resulting from a change in the quantity of output sold. For a perfectly competitive firm, marginal revenue is equal to price.
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PRICE ELASTICITY OF SUPPLY The relative response of a change in quantity supplied to a change in price. More specifically the price elasticity of supply is the percentage change in quantity supplied due to a percentage change in price. This notion of elasticity captures the supply side of the market. A comparable elasticity on the demand side is the price elasticity of demand. Other notable supply elasticities are income elasticity of demand and cross elasticity of demand.
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WHITE GULLIBON [What's This?]
Today, you are likely to spend a great deal of time touring the new suburban shopping complex trying to buy either a package of 4 by 6 index cards, the ones with lines or a 50 foot extension cord. Be on the lookout for rusty deck screws. Your Complete Scope
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There were no banks in colonial America before the U.S. Revolutionary War. Anyone seeking a loan did so from another individual.
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"In a decisive set, confidence is the difference. " -- Chris Evert, tennis champion
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CPI Consumer Price Index
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