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OLIGOPOLY CHARACTERISTICS: The three most important characteristics of oligopoly are: (1) an industry dominated by a small number of large firms, (2) firms sell either identical or differentiated products, and (3) the industry has significant barriers to entry.
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PLANNING HORIZON Another term for the long-run average cost curve. The long-run average cost curve is termed the planning horizon or planning curve because it provides information that a firm can use to plan factory construction and expansion in the long run.
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Rosemary, long associated with remembrance, was worn as wreaths by students in ancient Greece during exams.
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"If you worried about falling off the bike, you'd never get on. " -- Lance Armstrong, bicycle racer
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COLA
Cost of Living Adjustment
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