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RETURNS TO SCALE: Changes in production the occurs when all resources are proportionately increased in the long run. Returns to scale answers the question: If labor, capital, and ALL other inputs increase by 10%, does output increase by more than 10%, less than 10%, or exactly 10%? These answers indicate that returns to scale can take one of three forms: increasing returns to scale, decreasing returns to scale, and constant returns to scale.
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OLIGOPSONY A market characterized by a small number of large buyers controlling the buying-side of a market. Oligopsony is the buying-side equivalent of a selling-side oligopoly. Much as a oligopoly is a market dominated by a few large sellers, oligopsony is a market dominated by a few large buyers. While oligopsony could be analyzed for any type of market it tends to be most relevant for factor markets in which a handful of firms control the buying of a factor. Two related buying side market structures are monopsony and monopsonistic competition.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time touring the new suburban shopping complex wanting to buy either a genuine fake plastic Tiffany lamp or a microwave over that won't burn your popcorn. Be on the lookout for vindictive digital clocks with revenge on their minds.
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This isn't me! What am I?
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Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
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"always remember an epitaph which is in the cemetery at Tombstone, Arizona. It says: „Here lies Jack Williams. He done his damnedest.¾ I think that is the greatest epitaph a man can have ‚ When he gives everything that is in him to do the job he has before him. That is all you can ask of him and that is what I have tried to do. " -- Harry Truman, 33rd US president
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Q-RATIO
Ratio of Total Market Value of Physical Assets
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