|
|
NCUA: The abbreviation for National Credit Union Administration, which is the Federal government entity responsible for chartering and regulating credit unions. It plays a similar role for credit unions that the Comptroller of the Currency and the Federal Home Loan Bank have historically played for banks and savings and loan associations.
Visit the GLOSS*arama
|
|
|
|
|
Lesson 16: Perfect Competition | Unit 2: Short-Run Output
|
Page: 7 of 28
|
|
Topic:
The Revenue Numbers
|
|
|
The revenue side of a typical perfectly competitive firm is presented in this table.- Quantity (Q): The quantity of output produced by the firm, presented in the first column, ranges from 0 to 10 units.
- Price (P): The second column presents the price received by the firm. This is the market price.
- Total Revenue (TR): The firm's total revenue is presented in the third column.
- Average Revenue (AR): The fourth column presents average revenue, which is total revenue per unit of output, or total revenue divided by the quantity.
- Marginal Revenue (MR): The fifth column presents marginal revenue, the change in total revenue divided by the change in quantity.
|
|
|
|
|
|
|
PERFECT COMPETITION, PROFIT MAXIMIZATION A perfectly competitive firm is presumed to produce the quantity of output that maximizes economic profit--the difference between total revenue and total cost. This production decision can be analyzed directly with economic profit, by identifying the greatest difference between total revenue and total cost, or by the equality between marginal revenue and marginal cost.
Complete Entry | Visit the WEB*pedia |
|
|
WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time searching for a specialty store trying to buy either car battery jumper cables or a dozen high trajectory optic orange golf balls. Be on the lookout for fairy dust that tastes like salt.
Your Complete Scope
This isn't me! What am I?
|
|
|
Rosemary, long associated with remembrance, was worn as wreaths by students in ancient Greece during exams.
|
|
|
"always remember an epitaph which is in the cemetery at Tombstone, Arizona. It says: „Here lies Jack Williams. He done his damnedest.¾ I think that is the greatest epitaph a man can have ‚ When he gives everything that is in him to do the job he has before him. That is all you can ask of him and that is what I have tried to do. " -- Harry Truman, 33rd US president
|
|
AACT
American Assocation of Commodity Traders
|
|
|
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
|
|
