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LEVERAGE: The use of credit or loans to enhance speculation in the financial markets. Suppose, for example, that you take the $1,000 in your bank account to your stock broker and purchase $1,000 worth of stocks, bonds, or whatever. A leveraged purchase would let you use your $1,000 to buy, let's say, $10,000 worth of stocks or bonds. The remaining $9,000 of the purchase price comes from a loan.

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Lesson 11: Elasticity Basics | Unit 1: The Concept Page: 2 of 25

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  • The elasticity definition goes something like this...

  • Elasticity is the relative response of one variable to changes in another variable.
  • The phrase "relative response" is best interpreted as "percentage change."

  • In other words, elasticity is a measure of the percentage change in one variable relative to the percentage change in another variable.

  • The two most important variables that we are concerned with are price and quantity.

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TOTAL REVENUE CURVE, MONOPOLY

A curve that graphically represents the relation between the total revenue received by a monopoly firm for selling its output and the quantity of output sold. It is combined with a monopoly firm's total cost curve to determine economic profit and the profit maximizing level of production. The slope of the total revenue curve is marginal revenue.

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Today, you are likely to spend a great deal of time at a going out of business sale trying to buy either a small palm tree that will fit on your coffee table or several magazines on fashion design. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity.
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The average length of a "business lunch" is about 36 minutes.
"It is not fair to ask of others what you are unwilling to do yourself. "

-- Eleanor Roosevelt, diplomat, activist

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