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MARGINAL REVENUE CURVE, MONOPOLISTIC COMPETITION: A curve that graphically represents the relation between marginal revenue received by a monopolistically competitive firm for selling its output and the quantity of output sold. The marginal revenue curve reflects the degree of market control held by a firm. For a monopolistically competitive firm with some market control, but not a whole lot, the marginal revenue curve is negatively-sloped but relatively elastic.
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Lesson 2: Economic Science | Unit 5: Cause and Effect
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Page: 18 of 20
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- Suppose we suspect an apparent correlation between jogging shoe sales and advertising expenditures. Does advertising cause greater shoe production and sales.
Series of events:- Shoe companies increase advertising,
- Buyers realize that they want or need more shoes,
- Buyers buy more jogging shoes,
- Stores sell shoes and order more,
- Manufactures respond by making more jogging shoes,
- Jogging shoe sales and production are greater.
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SLOPE, GOVERNMENT PURCHASES LINE The positive slope of the government purchases line is also termed the marginal propensity for government purchases (MPG). This slope is greater than zero but less than one, reflecting induced government purchases. The slope of the government purchases line affects the slope of the aggregate expenditures line and thus also affects the magnitude of the multiplier process.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time watching the shopping channel seeking to buy either a large, stuffed giraffe or a birthday greeting card for your aunt. Be on the lookout for telephone calls from former employers.
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Mark Twain said "I wonder how much it would take to buy soap buble if there was only one in the world."
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"Lord, where we are wrong, make us willing to change; where we are right, make us easy to live with. " -- Peter Marshall, US Senate chaplain
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SSRN
Social Science Research Network
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