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DOMINANT FIRM: A term employed in industrial organization to describe a firm that is a price maker and faces little competition from smaller price taking firms, called fringe firms. A firm can become a dominant firm because it has lower costs than fringe firms, because they have a superior differentiated product in the market or because a group of firms collectively act as a single firm. A dominant firm usually has a large market share.

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SLOPE, LONG-RUN AGGREGATE SUPPLY CURVE

The long-run aggregate supply (LRAS) curve is a vertical line with an infinite slope, reflecting the independent relation between the price level and aggregate real production. A higher price level is associated with the same real production as a lower price level. This is the real production generated when resources are fully employed, that is, full-employment production.

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Today, you are likely to spend a great deal of time lost in your local discount super center seeking to buy either a birthday greeting card for your mother that doesn't look like a greeting card or a handcrafted spice rack. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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North Carolina supplied all the domestic gold coined for currency by the U.S. Mint in Philadelphia until 1828.
"Leadership is the art of getting someone else to do something you want done because he wants to do it."

-- Dwight Eisenhower, 34th US president

QLR
Quasi-Likelihood Ratio
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