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TOTAL-MARGINAL RULE: A mathematical connection between a marginal value is the slope of a curve of the corresponding total value stating that the marginal IS the slope of the total curve. If the total curve has a positive slope (that is, is upward sloping), then marginal is positive. If the total product has a negative slope (downward sloping), then marginal is negative. If the total curve has a zero slope (horizontal), then marginal is zero. Moreover, if the total curve has an increasing slope (becoming steeper), then the marginal is rising. If the total curve has a decreasing slope (becoming flatter), then the marginal is falling.
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AGGREGATE SUPPLY SHIFTS Changes in the aggregate supply determinants shift both the short-run aggregate supply curve and the long-run aggregate supply curve. The mechanism is comparable to that for market supply determinants and market supply. There are two options--an increase in aggregate supply and a decrease in aggregate supply. An increase in resource quantity or quality or a decrease in resource price shifts one or both of the aggregate supply curves to right. A decrease in resource quantity or quality or an increase in resource price shifts one or both of the aggregate supply curves to left.
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The average length of a "business lunch" is about 36 minutes.
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"In a time of drastic change, it is the learners who inherit the future. " -- Eric Hoffer, philosopher
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TGE
Tokyo Grain Exchange (Japan)
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