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AMERICAN STOCK EXCHANGE: One of three national stock markets in the United States (see National Association of Securities Dealers and New York Stock Exchange) that trade ownership shares in corporations. In terms of daily stock transactions and the number of stocks listed, the American Stock Exchange is the smallest of these three. However, it's composite index of stock prices -- AMEX is considered important enough to be flashed briefly on the nightly news.

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Lesson 20: Oligopoly | Unit 4: Analysis Page: 18 of 24

Topic: Collusion Output <=PAGE BACK | PAGE NEXT=>

  • By combining their productive capabilities -- that is, their marginal cost curves -- the firms can now reach a profit-maximizing output.

  • This is the same output level that would be reach if monopoly controlled the soft-drink market.

  • The two firms maximize total industry profit by producing the quantity of output in which the marginal cost of each firm is equal to the marginal revenue for the overall market.

  • A Little Cheating: Consider either firm's predicament. Both can increase profit by increasing production.

  • However, under the collusion agreement, each firm can do a little better if they increase production -- so long as the other firms maintain the agreement and the higher price.

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NET FOREIGN FACTOR INCOME

The difference between factor payments received from the foreign sector by domestic citizens and factor payments made to foreign citizens for domestic production. Net foreign factor income (NFFI) is the key difference between gross DOMESTIC product and gross NATIONAL product in the National Income and Product Accounts maintained by the Bureau of Economic Analysis. It is also an important difference between NATIONAL income and gross (and net) DOMESTIC product.

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GREEN LOGIGUIN
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Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius seeking to buy either a pair of red and purple designer socks or a T-shirt commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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One of the largest markets for gold in the United States is the manufacturing of class rings.
"I can feel guilty about the past, apprehensive about the future, but only in the present can I act."

-- Abraham Maslow, Psychologist

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