|
|
AMORTIZATION: The process of paying off a debt liability and accrued interest through a series of equal, periodic payments. Car loans and mortgages are two debts commonly paid off through amortization. Your monthly car payment, for example, partially pays for interest accrued on the outstanding balance and partly reduces that balance. Because one payment reduces the outstanding balance, each subsequent payment has a smaller portion for interest. If the proper amortization schedule has been calculated, your loan will be paid off with the last payment.
Visit the GLOSS*arama
|
|
|
|
|
Lesson 19: Monopolistic Competition | Unit 5: Evaluation
|
Page: 20 of 22
|
|
Topic:
The Good: Differences
|
|
|
- While monopolistic competition is inefficient and has excess capacity, all is not bad:
- Competition Among the Many: Although monopolistic competition is not perfect competition, it is competition.
- Price and Marginal Cost: While monopolistic competition does not produce the quantity that equates price and marginal cost, the difference is often NOT very big.
- Different Preferences: Because monopolistic competition firms offer different products, buyers are able to satisfy different tastes and preferences.
- Monopolistic competition may actually be a BETTER market structure than perfect competition -- at least better for real world people who live in the real world.
|
|
|
|
|
|
|
PERFECT COMPETITION, REVENUE DIVISION The marginal approach to analyzing a perfectly competitive firm's short-run profit maximizing production decision can be used to identify the division of total revenue among variable cost, fixed cost, and economic profit. The U-shaped cost curves used in this analysis provide all of the information needed on the cost side of the firm's decision. The demand curve facing the firm (which is also the firm's average revenue and marginal revenue curves) provides all of the information needed on the revenue side.
Complete Entry | Visit the WEB*pedia |
|
|
BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time searching for rummage sales hoping to buy either a coffee cup commemorating the moon landing or a how-to book on surfing the Internet. Be on the lookout for pencil sharpeners with an attitude.
Your Complete Scope
This isn't me! What am I?
|
|
|
In the Middle Ages, pepper was used for bartering, and it was often more valuable and stable in value than gold.
|
|
|
"Far and away the best prize that life has to offer is the chance to work hard at work worth doing." -- Theodore Roosevelt, 26th US president
|
|
TIBOR
Tokyo Interbank Offered Rate (Japan)
|
|
|
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
|
|
