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March 19, 2024 

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CONCAVE: A curve that is 'bowed-in' toward the origin, like entering a cave. Technically speaking, the slope of a concave curve decreases from left to right as the X-axis variable increases.

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There are 45 entries in the GLOSS*arama starting with the letter O.

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AVERAGE REVENUE, PERFECT COMPETITION

The revenue received for selling a good per unit of output sold, found by dividing total revenue by the quantity of output. Average revenue often goes by a simpler and more widely used term... price. For a perfectly competitive firm average revenue is also equal to marginal revenue. Average revenue for a perfectly competitive firm is often depicted by a horizontal average revenue curve.

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The Sick State Of HEALTH CARE

Our pedestrian's guide to the economy would be remiss if we failed to stroll past the Shady Valley Memorial Hospital and my very own physician's place of business, the Dr. Dowrimple T. Bedside Family Clinic, to examine the considerable controversy over health care. A debate has raged for years over health care in the United States, including, but not limited to, the quality of services, their cost, their slice of the economic pie, who pays, who doesn't, and who should.
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YELLOW CHIPPEROON
[What's This?]

Today, you are likely to spend a great deal of time at an auction trying to buy either a how-to book on home repairs or a large, stuffed kitty cat. Be on the lookout for deranged pelicans.
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This isn't me! What am I?

Junk bonds are so called because they have a better than 50% chance of default, carrying a Standard & Poor's rating of CC or lower.
"Look at the abundance all around you as you go about your daily business. You have as much right to this abundance as any other living creature. It's yours for the asking."

-- Earl Nightingale

JHR
Journal of Human Resources
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