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COMPLEMENT-IN-CONSUMPTION: One of two goods that are consumed together to provide satisfaction -- that is, the goods are used jointly to satisfy wants and needs. A complement good is one of two alternatives falling within the other prices determinant of demand. The other is a substitute good. An increase in the price of one complement good causes a decrease in demand for the other. A complement good has a negative cross price elasticity. When the terms complements or complement goods are used, they typically means complement-in-consumption (compare this with complement-in-production). Examples of complement goods are golf clubs and golf balls; hamburgers and french fries; and cars and gasoline. In each case, the two goods "go together." People seldom use or consume one without the other.
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MARGINAL REVENUE CURVE, PERFECT COMPETITION A curve that graphically represents the relation between the marginal revenue received by a perfectly competitive firm for selling its output and the quantity of output sold. Because a perfectly competitive firm is a price taker and faces a horizontal demand curve, its marginal revenue curve is also horizontal and coincides with its average revenue (and demand) curve. A perfectly competitive firm maximizes profit by producing the quantity of output found at the intersection of the marginal revenue curve and marginal cost curve.
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The average bank teller loses about $250 every year.
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"Be a yardstick of quality. Some people aren't used to an environment where excellence is expected. " -- Steve Jobs, Apple Computer co-founder
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NNP
Net National Product
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