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LONG RUN: In terms of the macroeconomic analysis of the aggregate market, a period of time in which all prices, especially wages, are flexible, and have achieved their equilibrium levels. In terms of the microeconomic analysis of production and supply, a period of time in which all inputs in the production process are variable.
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MARGINAL REVENUE, MONOPOLY: The change in total revenue received by a monopoly resulting from a change in the quantity of output sold. For a monopoly firm, marginal revenue is less than the price. See also | marginal revenue | total revenue | quantity | monopoly | price | average revenue | perfectly elastic | marginal cost | marginal revenue, monopolistic competition | Recommended Citation:MARGINAL REVENUE, MONOPOLY, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: March 28, 2024]. AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: marginal revenue, monopoly
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AGGREGATE SUPPLY INCREASE, LONG-RUN AGGREGATE MARKET A shock to the long-run aggregate market caused by an increase in aggregate supply, resulting in and illustrated by a rightward shift of the long-run aggregate supply curve. An increase in aggregate supply in the long-run aggregate market results in a decrease in the price level and an increase in real production. The level of real production resulting from the shock is a greater level of full-employment real production.
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YELLOW CHIPPEROON [What's This?]
Today, you are likely to spend a great deal of time browsing through a long list of dot com websites seeking to buy either high-gloss photo paper that works with your printer or a desktop calendar with all federal and state holidays highlighted. Be on the lookout for deranged pelicans. Your Complete Scope
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A thousand years before metal coins were developed, clay tablet "checks" were used as money by the Babylonians.
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"Good judgment comes from experience, and often experience comes from bad judgment." -- Rita Mae Brown ‚ Writer
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FRB Federal Reserve Board
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