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YANKEE BOND: A bond issued with a dollar denomination in the United States by a foreign bank or corporation. This allows U.S. investors to invest in foreign securities without price fluctuations caused by exchange rates.

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Lesson 19: Monopolistic Competition | Unit 3: Output Page: 11 of 22

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  • A monopolistic competitive firm is motivated by profit maximization.

  • Profit maximization is the presumption that firms make decisions and undertake production to achieve the highest possible level of economic profit, which is the difference between total revenue and total opportunity cost (including a normal profit).
  • With these numbers in place, the firm's profit-maximizing task is relatively straightforward -- to pick the production quantity associated with the highest amount of profit.

  • Three ways:

    • The Total Approach

    • Profit

    • The Marginal Approach

  • In all likelihood the firm will go ahead and produce the sixth unit. However, it will not produce the eighth unit.


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ECONOMICS OF INFORMATION

The study of the role that information plays in the economy and in the allocation of resources, with special attention paid to efficient information search. Key topics in this area of study and analysis are asymmetric information, moral hazard, adverse selection, signalling, and screening. This study of the economics of information also provides insight into the analysis of risk and uncertainty, which are important to insurance and financial markets.

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Today, you are likely to spend a great deal of time at an auction hoping to buy either a small, foam rubber football or an instructional DVD on learning to the play the oboe. Be on the lookout for the last item on a shelf.
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North Carolina supplied all the domestic gold coined for currency by the U.S. Mint in Philadelphia until 1828.
"The secret of getting ahead is getting started. The secret of getting started is breaking your complex, overwhelming tasks into small manageable tasks, and then starting on the first one. "

-- Mark Twain, writer

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