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IMMIGRATION: Migration that enters one country from another country. Immigration is usually seen as a problem for existing citizens of nation because--(1) the supply of labor increases, which tends to lower wages, (2) there's a greater demand for public services, which causes taxes to rise, and (3) the culture of immigrants is usually different, which creates all sorts of social conflicts. However, immigration can also be beneficial because--(1) the additional labor is a source of economic growth, (2) the immigrants might be willing to do some jobs that wouldn't be performed otherwise, and (3) some goods can produced at lower cost. Compare emigration.
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MARGINAL REVENUE, PERFECT COMPETITION The change in total revenue resulting from a change in the quantity of output sold. Marginal revenue indicates how much extra revenue a perfectly competitive firm receives for selling an extra unit of output. It is found by dividing the change in total revenue by the change in the quantity of output. Marginal revenue is the slope of the total revenue curve and is one of two revenue concepts derived from total revenue. The other is average revenue. To maximize profit, a perfectly competitive firm equates marginal revenue and marginal cost.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time at a dollar discount store wanting to buy either a pair of handcrafted oven mitts or a coffee table shaped like the state of Florida. Be on the lookout for slightly overweight pizza delivery guys.
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North Carolina supplied all the domestic gold coined for currency by the U.S. Mint in Philadelphia until 1828.
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"My philosophy of life is that if we make up our mind what we are going to make of our lives, then work hard toward that goal, we never lose - somehow we win out." -- President Ronald Reagan
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MRP
Marginal Revenue Product
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