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B: The common notation for the "slope" term of an equation specified as Y = a + bX. Mathematically, the b-slope term indicates the change in the value of the Y variable resulting from a unit change in the value of the X variable. Theoretically, the b-slope is frequently used to indicate endogenous or dependent relation between the Y and X variables. For example, if Y represents consumption and X represents national income, b measures induced consumption expenditures.

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KINKED-DEMAND CURVE ANALYSIS: An analysis that seeks to explain rigid oligopolistic prices using the kinked-demand curve. The kinked demand curve contains two distinct segments, one for higher prices that is more elastic and one for lower prices that is less elastic. The corresponding marginal revenue curve contains a vertical segment at the existing or initial quantity. Because a profit-maximizing oligopolistic firm equates marginal cost to marginal revenue, marginal cost also can take on a range of values at the existing quantity. In other words, marginal cost can increase or decrease without inducing a profit-maximizing oligopolistic firm to change price or quantity.

     See also | kinked-demand curve | demand curve | oligopoly | elasticity | quantity demanded | price | marginal revenue | marginal revenue curve | marginal cost | profit maximization |


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KINKED-DEMAND CURVE ANALYSIS, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2021. [Accessed: November 29, 2021].


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SATISFACTION

The process of successfully fulfilling wants and needs. This also goes by the technical economic term utility, and is essentially synonymous with more common words, such as fulfillment, well-being, and to some degree prosperity or happiness.

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Today, you are likely to spend a great deal of time looking for a downtown retail store wanting to buy either a handcrafted bird feeder or a New York Yankees baseball cap. Be on the lookout for neighborhood pets, especially belligerent parrots.
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In his older years, Andrew Carnegie seldom carried money because he was offended by its sight and touch.
"The world is not dangerous because of those who do harm but because of those who look at it without doing anything. "

-- Albert Einstein, physicist

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