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 LEGAL RESERVES: The total amount of vault cash or Federal Reserve deposits of a bank. These are the only bank assets that can be used legally to satisfy reserve requirements.
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 Lesson Contents Unit 1: Intro Definition Characteristics A Mix Product Differentiation Unit 1 Summary Unit 2: Revenue And Cost The Revenue Numbers The Revenue Curves The Cost Numbers The Cost Curves Unit 2 Summary Unit 3: Output The Numbers The Curves Long-Run Equilibrium Unit 3 Summary Unit 4: Analysis Profit, Loss, And Supply Efficiency And Excess Capacity Advertising Unit 4 Summary Unit 5: Evaluation The Bad: Inefficient The Good: Differences Regulation Unit 5 Summary Course Home
Monopolistic Competition

• The first unit of this lesson, A Bunch Of Firms, begins this lesson with a look at the nature of monopolistic competition and how it is related to other market structures.
• In the second unit, Revenue And Cost, we review the revenue side and the cost side the production decision for a monopolistically competitive firm.
• The third unit, The Output Level, then looks at the profit-maximizing output production decision by a firm in monopolistic competition.
• In the fourth unit, Doing Some Analysis, we examine a few of the implications of market characterized by monopolistic competition.
• The fifth and final unit, Good Or Bad?, then closes this lesson by considering the good and the bad of monopolistic competition.

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AVERAGE FACTOR COST CURVE, PERFECT COMPETITION

A curve that graphically represents the relation between average factor cost incurred by a perfectly competitive firm for employing an input and the quantity of input used. Because average factor cost is essentially the price of the input, the average factor cost curve is also the supply curve for the input. The average factor cost curve for a perfectly competitive firm with no market control is horizontal. The average revenue curve for a firm with market control is positively sloped.

 GREEN LOGIGUIN[What's This?] Today, you are likely to spend a great deal of time at a going out of business sale trying to buy either a set of luggage without wheels or a how-to book on wine tasting. Be on the lookout for a thesaurus filled with typos.Your Complete Scope
 North Carolina supplied all the domestic gold coined for currency by the U.S. Mint in Philadelphia until 1828.
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