|
|
TANGENCY: A geometric condition that occurs when two curves touch at a single point with identical slopes at that point. This condition of tangency surfaces in several different areas of economic analysis, including indifference curve analysis (tangency between an indifference curve and budget line) and monopolistic competition (tangency between demand curve and long-run average cost curve). The tangency between two curves should be contrasted with the condition of intersection, in which two cross at a single point but do not have identical slopes.
Visit the GLOSS*arama
|
|
|
|
|
AVERAGE FACTOR COST CURVE A curve that graphically represents the relation between average factor cost incurred by a 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 firm with no market control is horizontal. The average revenue curve for a firm with market control is positively sloped.
Complete Entry | Visit the WEB*pedia |
|
|
RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time watching infomercials wanting to buy either handcrafted decorations to hang on your walls or throw pillows for your bed. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
Your Complete Scope
This isn't me! What am I?
|
|
|
Potato chips were invented in 1853 by a irritated chef repeatedly seeking to appease the hard to please Cornelius Vanderbilt who demanded french fried potatoes that were thinner and crisper than normal.
|
|
|
"Stand up to your obstacles and do something about them. You will find that they haven't half the strength you think they have." -- Norman Vincent Peale
|
|
AID
Agency for International Development
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
