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LRTC: The abbreviation for long-run total cost, which is the opportunity cost incurred by all of the factors of production used in the long run (when all inputs are variable) by a firm to produce of a good or service, including wages paid to labor, rent paid for the land, interest paid to capital owners, and a normal profit paid to entrepreneurs. Unlike short-run total cost, long-run total cost can not be separated into fixed cost and variable cost. In the long run, all inputs are variable, so all cost is variable.
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CONTRIBUTIVE STANDARD An income distribution standard in which income is divided among members of society based on the value of each person's contribution to production. This is one of three basic income distribution standards that answers the For Whom? question of allocation. The other two are the equality standard and the needs standard.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time surfing the Internet trying to buy either a pair of leather sandals that won't cause blisters or clothing for your kitty cats. Be on the lookout for poorly written technical manuals.
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This isn't me! What am I?
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A lump of pure gold the size of a matchbox can be flattened into a sheet the size of a tennis court!
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"The best way to cheer yourself up is to try to cheer somebody else up." -- Mark Twain
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FCF
Free Cash Flow
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