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FCC: The abbreviation for the Federal Communications Commission, which was established by the Communications Act of 1934 and is charged with regulating interstate and international communications by radio, television, wire, satellite and cable. The FCC consists of five Commissioners appointed by the President and confirmed by the Senate. Each commissioner serves a 5-year term, except when filling an unexpired term. One of the regulatory forces in the marketing environment.
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MARGINAL REVENUE CURVE, PERFECT COMPETITION A curve that graphically represents the relation between the marginal revenue received by a perfectly competitive firm for selling its output and the quantity of output sold. Because a perfectly competitive firm is a price taker and faces a horizontal demand curve, its marginal revenue curve is also horizontal and coincides with its average revenue (and demand) curve. A perfectly competitive firm maximizes profit by producing the quantity of output found at the intersection of the marginal revenue curve and marginal cost curve.
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PURPLE SMARPHIN
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Today, you are likely to spend a great deal of time at the confiscated property police auction looking to buy either a large, stuffed kitty cat or a cross-cut paper shredder. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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The Dow Jones family of stock market price indexes began with a simple average of 11 stock prices in 1884.
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"We may affirm absolutely that nothing great in the world has been accomplished without passion." -- Hegel
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R&D
Research and Development
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