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U.S. TREASURY BILL: One kind of government security issued by the U. S. Treasury to obtain the funds used to finance the federal budget deficit. A Treasury bill (or T-bill) has a maturity length of one year or less, with 90 days a common maturity. T-bills, together with short-term commercial paper issued by businesses, are traded in money markets. The interest rate on T-bills is one of the key indicators of short-run economic activity.
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Lesson 19: Monopolistic Competition | Unit 3: Output
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Page: 12 of 22
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- Let's now analyze the short-run production decision using the folowing four curves:
- Demand (Average Revenue) (D = AR)
- Marginal Revenue (MR)
- Average Total Cost (ATC)
- Marginal Cost (MC)
- Our task is to identify the firm's profit-maximizing production level.
- This level is achieved at the intersection of the marginal revenue (MR) and marginal cost (MC) curves.
- The priced that the firm charges and the price that buyers are willing to pay for this 6-unit production quantity is $4.95.
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CHANGE IN SUPPLY A shift of the supply curve caused by a change in one of the supply determinants. A change in supply is caused by any factor affecting supply EXCEPT price. A related, but distinct, concept is a change in quantity supplied.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time wandering around the downtown area hoping to buy either a wall poster commemorating the 2000 Olympics or a flower arrangement with a lot of roses for your grandmother. Be on the lookout for neighborhood pets, especially belligerent parrots.
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This isn't me! What am I?
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The New York Stock Exchange was established by a group of investors in New York City in 1817 under a buttonwood tree at the end of a little road named Wall Street.
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"Defeat is simply a signal to press onward. " -- Helen Keller, author, lecturer
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GARP
Generalized Axioms of Revealed Preference
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