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HEDONIC PRICING MODEL: A statistical model used to identify factors or influences on the price of good based on the notion that price is based on both intrinsic characteristic and external factors. The hedonic pricing model is most commonly used in the housing market in which the price of housing is based on the physical characteristics of the house (size, appearance, features) and the surrounding neighborhood (accessibility to schools and shopping, quality of other houses, availability of public services). Estimating hedonic prices makes it possible to identify the extent to which specific factors affect the price.
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SUPPLY PRICE The minimum price that sellers are willing and able to accept for a given quantity of a good. While sellers might be willing and able to accept more than the supply price for a given quantity, they are not willing and able to accept less. The supply curve is a plot of the supply price for each quantity.
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The first paper notes printed in the United States were in denominations of 1 cent, 5 cents, 25 cents, and 50 cents.
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"I believe that every right implies a responsibility, every opportunity, an obligation, every possession, a duty. " -- John D. Rockefeller, industrialist
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ACIR
Advisory Council on Intergovernmental Relations
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