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AGRARIAN: A term signifying a connection to farming, agricultural production, or the land. Agrarian is often used as a modifier for other terms, such as agrarian society (an economy that relies heavily on agricultural production), agrarian society (a society based on the institutions that emerge from a heavy reliance on agricultural production), or agrarian movement (a political movement designed to product agricultural production). Because farming was one of the first and remains one of the most fundamental activities undertaken by even the most primitive society, agrarian is typically associated with less developed, as in the phrase a "less developed, agrarian nation."
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PERFECT COMPETITION, PROFIT ANALYSIS: A perfectly competitive firm produces the profit-maximizing quantity of output that generates the highest level of profit. This profit approach is one of three methods that used to determine the profit-maximizing quantity of output. The other two methods involve a comparison of total revenue and total cost or a comparison of marginal revenue and marginal cost. See also | perfect competition, short-run production analysis | perfect competition, marginal analysis | perfect competition, total analysis | perfect competition, breakeven output | short-run production alternatives | perfect competition, profit maximization | perfect competition, loss minimization |
Recommended Citation:PERFECT COMPETITION, PROFIT ANALYSIS, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: May 23, 2025].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: perfect competition, profit analysis
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AVERAGE REVENUE PRODUCT AND MARGINAL REVENUE PRODUCT A mathematical connection between average revenue product and marginal revenue product stating that the change in the average revenue product depends on a comparison between the average revenue product and marginal revenue product. If marginal revenue product is less than average revenue product, then average revenue product declines. If marginal revenue product is greater than average revenue product, then average revenue product rises. If marginal revenue product is equal to average revenue product, then average revenue product does not change.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors seeking to buy either one of those "hang in there" kitty cat posters or a velvet painting of Elvis Presley. Be on the lookout for crowded shopping malls.
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Okun's Law posits that the unemployment rate increases by 1% for every 2% gap between real GDP and full-employment real GDP.
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"There is no passion to be found playing small ‚ in settling for a life that idles than the one you are capable of living." -- Nelson Mandela
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NLS
National Longitudinal Survey
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