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ZERO-SUM GAME: A situation in which a fixed amount is divided up among the winners and losers. In a zero-sum game the wins equal the losses. Many stock market, or financial market, exchanges are zero-sum. One person buys low and sells high, while another buys high and sells low. The wealth in such transactions are merely transferred from one person to another. "Productive" market transactions, in contrast, are not zero-sum. The act of producing goods and services from resources that are consumed to satisfy wants and needs results in a net gain to society.
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TOTAL REVENUE CURVE: A curve that graphically represents the relation between total revenue received by a firm for selling its output and the quantity of output sold. It is used with the firm's total cost curve to determine economic profit. The marginal revenue curve, a key factor for determining the profit-maximizing level of a firm's output, is derived directly from the total revenue curve. This curve is constructed to capture the relation between total revenue and the level of output, holding other variables constant. See also | total revenue | curve | economic profit | short-run production | quantity | perfect competition | price | average revenue | marginal revenue | monopoly | oligopoly | monopolistic competition | total revenue and total cost | total revenue curve, monopolistic competition | total revenue curve, monopoly |
Recommended Citation:TOTAL REVENUE CURVE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: July 18, 2025].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: total revenue curve
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AVERAGE FACTOR COST CURVE, PERFECT COMPETITION A curve that graphically represents the relation between average factor cost incurred by a perfectly competitive firm for employing an input and the quantity of input used. Because average factor cost is essentially the price of the input, the average factor cost curve is also the supply curve for the input. The average factor cost curve for a perfectly competitive firm with no market control is horizontal. The average revenue curve for a firm with market control is positively sloped.
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BLACK DISMALAPOD
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Today, you are likely to spend a great deal of time browsing about a thrift store seeking to buy either a genuine fake plastic Tiffany lamp or a microwave over that won't burn your popcorn. Be on the lookout for small children selling products door-to-door.
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North Carolina supplied all the domestic gold coined for currency by the U.S. Mint in Philadelphia until 1828.
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"A winner is someone who recognizes his God-given talents, works his tail off to develop them into skills, and uses those skills to accomplish his goals. " -- Larry Bird, basketball player
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NEDC
National Economic Development Council
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