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RIVAL CONSUMPTION: Consumption of a good by one person imposes a cost on, or prevents consumption of the good by, another person. Some goods, like food, have extremely rival consumption. One person, and only one person, gets the benefit. Other goods, like national defense, have no consumption rivalry, everyone can benefit simultaneously without imposing a cost on others. This is one of the two key characteristics of a good (the other is excludability) that distinguishes between common-property goods, near-public goods, private goods, and public goods.

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AVERAGE REVENUE, MONOPOLY

The revenue received for selling a good per unit of output sold, found by dividing total revenue by the quantity of output. Average revenue often goes by a simpler and more widely used term... price. For a monopoly average revenue is greater than marginal revenue. Average revenue for a monopoly is often depicted by a negatively-sloped average revenue curve.

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APLS

ORANGE REBELOON
[What's This?]

Today, you are likely to spend a great deal of time strolling through a department store wanting to buy either a green fountain pen or a handcrafted bird house. Be on the lookout for high interest rates.
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This isn't me! What am I?

More money is spent on gardening than on any other hobby.
"If you wouldn't write it and sign it, don't say it."

-- Earl Wilson, Columnist

EFTS
Electronic Fund Transfer Systems
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