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BANK FOR INTERNATIONAL SETTLEMENTS: The Bank for International Settlements (BIS) is an international organization which fosters cooperation among central banks and other agencies in pursuit of monetary and financial stability. Established in 1930, the BIS is the world's oldest international financial organization. The head office is in Basel, Switzerland and there are two representative offices: in the Hong Kong, China and in Mexico City. As its customers are central banks, the BIS cannot accept deposits from, or provide financial services to, private individuals or corporate entities.
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Lesson 19: Monopolistic Competition | Unit 2: Revenue And Cost
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Page: 7 of 22
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Topic:
The Revenue Curves
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- The revenue side of the firm's production decision involves two curves:
- Demand (Average Revenue) (D = AR): The average revenue curve, which is also the demand curve, is negatively-sloped, reflecting the law of demand and the firm's minimal market control.
- Marginal Revenue (MR): The marginal revenue curve indicates the extra revenue received by the firm for producing extra units.
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AVERAGE REVENUE CURVE, MONOPOLY A curve that graphically represents the relation between average revenue received by a monopoly for selling its output and the quantity of output sold. Because average revenue is essentially the price of a good, the average revenue curve is also the demand curve for a monopoly's output.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time watching the shopping channel seeking to buy either a pair of gray heavy duty boot socks or a 50-foot blue garden hose. Be on the lookout for small children selling products door-to-door.
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A U.S. dime has 118 groves around its edge, one fewer than a U.S. quarter.
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"Old age isn't so bad when you consider the alternative. " -- Cato, Roman orator
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OBX
Oslo Stock Exchange (Norway)
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