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DIVISIBILITY: One of four characteristics that enables an asset to better function as money. The other three are durability, transportablity, and non-counterfeitability. This characteristic means that the item used as money can be easily divided into small increments so that it can match commodity values more precisely.
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AVERAGE REVENUE, PERFECT COMPETITION 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 perfectly competitive firm average revenue is also equal to marginal revenue. Average revenue for a perfectly competitive firm is often depicted by a horizontal average revenue curve.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time flipping through the yellow pages wanting to buy either semi-gloss photo paper that works with your neighbor's printer or a birthday gift for your father that doesn't look like every other birthday gift for your father. Be on the lookout for vindictive digital clocks with revenge on their minds.
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This isn't me! What am I?
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A lump of pure gold the size of a matchbox can be flattened into a sheet the size of a tennis court!
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"How we spend our days is, of course, how we spend our lives. " -- Annie Dillard, essayist
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AER
American Economic Review
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