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UNSTABLE EQUILIBRIUM: An equilibrium that is NOT restored if disrupted by an external force. This should be contrasted with stable equilibrium. While most equilibria studied in economics are of the stable variety, a few cases of unstable equilibria do emerge from time to time, in limited circumstances.
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Lesson 5: Market Demand | Unit 3: Demand Curve
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Page: 11 of 20
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The area beneath the demand curve is the demand space. - The curve represents the maximum price that buyers would be willing to pay.
- Buyers would be willing to pay less than the demand price on the demand curve, but not more.
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TOTAL REVENUE, MONOPOLISTIC COMPETITION The revenue received by a monopolistically competitive firm for the sale of its output. Total revenue is one two bits of information a monopolistically competitive firm needs to calculate economic profit, the other is total cost. In general, total revenue is the price times quantity--the price received for selling a good times the quantity of the good sold at that price. For a monopolistically competitive firm, which has a modest degree of market control, total revenue increases at a decreasing rate. Two other revenue measures directly related to total cost are average revenue and marginal revenue. Total revenue is often depicted as a total revenue curve.
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GREEN LOGIGUIN [What's This?]
Today, you are likely to spend a great deal of time flipping through the yellow pages trying to buy either a coffee table shaped like the state of Florida or storage boxes for your summer clothes. Be on the lookout for deranged pelicans. Your Complete Scope
This isn't me! What am I?
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The word "fiscal" is derived from a Latin word meaning "moneybag."
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"The time to repair the roof is when the sun is shining." -- John F. Kennedy, 35th U. S. president
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SET Securities Exchange of Thailand
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