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June 14, 2025 

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FALLACY OF FALSE AUTHORITY: The logical fallacy of arguing that something is "correct" or "true" because an "expert" in an unrelated area says so. This is commonly used by both advertisers, politicians, and anyone who relies on their Uncle Clyde for the "correct" answers to all controversial issues. Not that I mean to belittle Uncle Clyde, who is a really nice man and an excellent barber, but he's just not an expert on economic policies.

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AD VALOREM TAX: A tax that is specified as a percentage of value. Sales, income, and property taxes are three of the more popular ad valorem taxes devised by government. The total ad valorem tax paid increases with the value of what's being taxed.

     See also | tax | per unit tax | sales tax | property tax |


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AD VALOREM TAX, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: June 14, 2025].


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PERFECT COMPETITION, SHORT-RUN PRODUCTION ANALYSIS

A perfectly competitive firm produces the profit-maximizing quantity of output that equates marginal revenue and marginal cost. This production level can be identified using total revenue and cost, marginal revenue and cost, or profit. Because a perfectly competitive firm faces a perfectly elastic demand curve, it efficiently allocates resources by equating price and marginal cost. In addition, the marginal cost curve above the average variable cost curve is the perfectly competitive firm's short-run supply curve.

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ORANGE REBELOON
[What's This?]

Today, you are likely to spend a great deal of time searching the newspaper want ads seeking to buy either a revolving spice rack or a how-to book on home repairs. Be on the lookout for crowded shopping malls.
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Before 1933, the U.S. dime was legal as payment only in transactions of $10 or less.
"We should never allow ourselves to be bullied by an either-or. There is often the possibility of something better than either of those two alternatives. "

-- Mary Parker Follett, management coach

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