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ECU: The abbreviation of the European Currency Unit, which is the forerunner of the euro that will be officially introduced in the European Union in 2002. The European Currency Unit is the weighted average of the currencies of the twelve original nations of the European Union. In that there are is no paper currency yet, it is currently used primarily for big-time commercial, financial, and international transactions.
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MARGINAL REVENUE, MONOPOLY The change in total revenue resulting from a change in the quantity of output sold. Marginal revenue indicates how much extra revenue a monopoly 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 monopoly equates marginal revenue and marginal cost.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time watching infomercials seeking to buy either a New York Yankees baseball cap or a solid oak entertainment center. Be on the lookout for telephone calls from long-lost relatives.
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Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
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"The truth is not for all men, but only for those who seek it. " -- Ayn Rand, writer
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AFC
Average Fixed Cost
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