|
UTILITY ANALYSIS: A subset of consumer demand theory that analysis consumer behavior and market demand using total utility and marginal utility. The key principle of utility analysis is the law of diminishing marginal utility, which offers an explanation for the law of demand and the negative slope of the demand curve.
Visit the GLOSS*arama
|
|

|
|
                          
AVERAGE REVENUE: The revenue received for selling a good, per unit of output sold, found by dividing total revenue by the quantity of output. Average revenue, abbreviated AR, actually goes by a simpler and more widely used term... price. Average revenue is really a fancy-schmancy term for the price received by a seller for selling a good. However, using the longer term average revenue let's us see the connection with other terms, like total revenue, marginal revenue, and quantity. See also | total revenue | quantity | price | marginal revenue | average revenue product | market structure | perfect competition | monopoly | market control | price taker | price maker |  Recommended Citation:AVERAGE REVENUE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: July 14, 2025]. AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: average revenue
Search Again?
Back to the GLOSS*arama
|
|
ASYMMETRIC INFORMATION Information is not equally available to everyone. Asymmetric information results because efficient information search inevitably stops short of compete information. Some people obtain more benefits from information than others, are willing to incur higher search costs, and thus end up knowing more. Or they incur lower information search costs and have easier access to the information. In a market, sellers tend to have more information about the good than buyers. Asymmetric information gives rise to adverse selection, moral hazard, and the principal-agent problem. These problems can be lessened through signalling and screening.
Complete Entry | Visit the WEB*pedia |


|
|
BEIGE MUNDORTLE [What's This?]
Today, you are likely to spend a great deal of time going from convenience store to convenience store wanting to buy either a remote controlled sports car with an air spoiler or semi-gloss photo paper that works with your neighbor's printer. Be on the lookout for malfunctioning pocket calculators. Your Complete Scope
This isn't me! What am I?
|
|
Two and a half gallons of oil are needed to produce one automobile tire.
|
|
"Concentrate all your thoughts upon the work at hand. The sun's rays do not burn until brought to a focus." -- Alexander Graham Bell, inventor
|
|
JLEO Journal of Law, Economics and Organization
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|

|