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DOUBLE COINCIDENCE OF WANTS: The requirements of a barter exchange that each trader has want the other wants and wants what the other has. Because everyone doesn't necessarily want everything, the lack of double coincidence of wants is a major obstacle in barter exchanges, especially for complex, modern economies. While double coincidence of wants is also essential for exchanges involving money, it's such an inherent trait of money we don't think twice about it. By its very nature as a generally accepted medium of exchange, everyone WANTS money.
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Lesson 18: Monopoly | Unit 2: Revenue
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Page: 12 of 30
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- Total Revenue
The total revenue curve, illustrated in the top panel and labeled TR, is "hump-shaped." It rises from zero, reaches a peak between 10 and 11 units, then declines. - Average Revenue
- The average revenue curve is displayed in the bottom panel of this diagram. It is the upper of the two negatively-sloped lines, labeled AR.
- Marginal Revenue
- The marginal revenue curve is also displayed in the bottom panel of this diagram. It is the lower of the two negatively-sloped lines, labeled MR.
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AVERAGE REVENUE, MONOPOLY The revenue received for selling a good per unit of output sold, found by dividing total revenue by the quantity of output. Average revenue often goes by a simpler and more widely used term... price. For a monopoly average revenue is greater than marginal revenue. Average revenue for a monopoly is often depicted by a negatively-sloped average revenue curve.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time browsing through a long list of dot com websites looking to buy either a birthday gift for your grandfather or a pleather CD case. Be on the lookout for empty parking spaces that appear to be near the entrance to a store.
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Junk bonds are so called because they have a better than 50% chance of default, carrying a Standard & Poor's rating of CC or lower.
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"The past is a foreign country; they do things differently there." -- Leslie Poles Hartley, Writer
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CPI-U
Consumer Price Index-All Urban Consumers
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