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WANT: This is often thought of as a psychological desire which makes life just a little more enjoyable, but which is not physiological necessary to life. You need oxygen, but you want a hot fudge sundae. Satisfaction is achieved by fulfilling wants.
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Lesson 20: Oligopoly | Unit 4: Analysis
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Page: 17 of 24
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- Collusion, of course, occurs when two or more firms in an oligopoly agree to set prices, control production, and otherwise act like a monopoly.
- To create a monopoly, two firms have to combine their two operations.
- The key consideration is both firms will seek to produce output using the firm with the lowest marginal cost.
- From a graphical standpoint, this is accomplished by horizontally summing the two marginal cost curves.
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MACROECONOMICS The branch of economics that studies the entire economy, especially such topics as aggregate production, unemployment, inflation, and business cycles. It can be thought of as the study of the economic forest, as compared to microeconomics, which is study of the economic trees.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time searching the newspaper want ads seeking to buy either a black duffle bag with velcro closures or any book written by Isaac Asimov. Be on the lookout for poorly written technical manuals.
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This isn't me! What am I?
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A scripophilist is one who collects rare stock and bond certificates, usually from extinct companies.
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"If anything terrifies me, I must try to conquer it. " -- Francis Charles Chichester, yachtsman, aviator
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MCA
Monetary Control Act of 1980
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