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MARKET CONTROL: The ability of buyers or sellers to exert influence over the price or quantity of a good, service, or commodity exchanged in a market. Market control depends on the number of competitors. If a market has relatively few buyers, but a bunch of sellers, then the buyers tend to have relatively more market control than sellers. The converse occurs if there are a bunch of buyers, but relatively few sellers. If the market is controlled on the supply side by one seller, we have a monopoly, and if it is controlled on the demand side by one buyer, we have a monopsony. Most markets are subject to some degree of control.
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ELASTICITY ALTERNATIVES: Five categories of elasticity that form a continuum indicating the relatively responsiveness of a change in one variable (usually quantity demanded or quantity supplied) to a change in another variable (usually demand price or supply price). These five alternatives--perfectly elastic, relatively elastic, unit elastic, relatively inelastic, and perfectly inelastic--are most often are used to categorize the price elasticity of demand and the price elasticity of supply. See also | elasticity | elastic | inelastic | relatively inelastic | perfectly inelastic | relatively elastic | unit elastic | perfectly elastic | elasticity alternatives, demand | elasticity alternatives, supply | coefficient of elasticity | elasticity determinants |
Recommended Citation:ELASTICITY ALTERNATIVES, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2022. [Accessed: May 27, 2022].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: elasticity alternatives
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MARGINAL REVENUE CURVE, PERFECT COMPETITION A curve that graphically represents the relation between the marginal revenue received by a perfectly competitive firm for selling its output and the quantity of output sold. Because a perfectly competitive firm is a price taker and faces a horizontal demand curve, its marginal revenue curve is also horizontal and coincides with its average revenue (and demand) curve. A perfectly competitive firm maximizes profit by producing the quantity of output found at the intersection of the marginal revenue curve and marginal cost curve.
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GRAY SKITTERY
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Today, you are likely to spend a great deal of time at an auction looking to buy either an instructional DVD on learning to the play the oboe or a small, foam rubber football. Be on the lookout for broken fingernail clippers.
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Rosemary, long associated with remembrance, was worn as wreaths by students in ancient Greece during exams.
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"He who has a „why¾ to live can bear with almost any „how."" -- Friedrich Nietzsche, Philosopher
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