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QUASI-PUBLIC: A good or activity that is some, but not all characteristics of a public good or activity. The term quasi-public is often used in connection with business activities that are privately controlled, but which are authorized by government legislation. The Federal National Mortgage Association is one example. Quasi-public is also commonly used in reference to goods that have one but not both of the key characteristics of a public good--nonrival consumption or nonexcludability of nonpayers. Information are transportation examples of quasi-public goods in which nonpayers can be excluded from use (like a private good) but are nonrival in consumption (like a public good).
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MARGINAL REVENUE PRODUCT AND FACTOR DEMAND A perfectly competitive firm's factor demand curve is that negatively-sloped portion of its marginal revenue product curve. A perfectly competitive firm maximizes profit by hiring the quantity of input that equates factor price and marginal revenue product. As such, the firm moves along its negatively-sloped marginal revenue product curve in response to changing factor prices.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway wanting to buy either a replacement remote control for your television or a replacement nozzle for your shower. Be on the lookout for cardboard boxes.
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The 22.6% decline in stock prices on October 19, 1987 was larger than the infamous 12.8% decline on October 29, 1929.
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"Whenever you fall, pick up something. " -- Oswald Avery, scientist
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CBI
Confederation of British Industry
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