|
|
ZERO BOND: Also termed a zero coupon bond, a bond that does not pay interest, in which the return is generated by the difference between the purchase price and the face value paid at maturity. Because they do not pay interest, zero bonds are sold at a discount. For example, a $10,000 zero bond that matures in one year, would generate a 10% return if it sold at a discount of $9,000.
Visit the GLOSS*arama
|
|
|
|
|
Lesson 16: Perfect Competition | Unit 3: Doing Graphs
|
Page: 18 of 28
|
In this unit, you should have learned about:- How the profit-maximizing quantity of output for a perfectly competitive firm can be found by identifying the greatest vertical distance between the total revenue and total cost curves.
- How the profit-maximizing quantity of output for a perfectly competitive firm can be found by identifying the peak of the profit curve.
- How the profit-maximizing quantity of output for a perfectly competitive firm can be found by identifying the intersection between the marginal revenue and marginal cost curves.
- That the total revenue received by a profit-maximizing perfectly competitive firm is divided between total cost, total variable cost, total fixed cost, and profit.
- That a profit-maximizing perfectly competitive firm faces three short-run output alternatives based on a comparison of price, average total cost, and average variable cost.
- Why the short-run supply curve for a perfectly competitive firm is the segment of the marginal cost curve that lies above the average variable cost curve.
- That the short-run supply curve for a perfectly competitive firm is positively sloped due to the law of diminishing marginal returns.
|
|
|
|
|
|
|
AVERAGE PRODUCT AND MARGINAL PRODUCT A mathematical connection between average product and marginal product stating that the change in the average product depends on a comparison between the average product and marginal product. If marginal product is less than average product, then average product declines. If marginal product is greater than average product, then average product rises. If marginal product is equal to average product, then average product does not change.
Complete Entry | Visit the WEB*pedia |
|
|
BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store looking to buy either a dozen high trajectory optic orange golf balls or a large red and white striped beach towel. Be on the lookout for the happiest person in the room.
Your Complete Scope
This isn't me! What am I?
|
|
|
Helping spur the U.S. industrial revolution, Thomas Edison patented nearly 1300 inventions, 300 of which came out of his Menlo Park "invention factory" during a four-year period.
|
|
|
"Experience keeps a dear school, but fools will learn in no other. " -- Benjamin Franklin
|
|
MRS
Marginal Rate of Substitution
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
