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MARGINAL FACTOR COST, MONOPSONY: The change in total factor cost resulting from a change in the quantity of factor input employed by a monopsony. Marginal factor cost, abbreviated MFC, indicates how total factor cost changes with the employment of one more input. It is found by dividing the change in total factor cost by the change in the quantity of input used. Marginal factor cost is compared with marginal revenue product to identify the profit-maximizing quantity of input to hire.
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WHOLESALE PRICE INDEX An index of the prices paid by retail stores for the products they ultimately resell to consumers. The Wholesale Price Index (WPI) was the forerunner of the modern Producer Price Index (PPI) and was discontinued in 1978. Other noted price indexes used to track economic activity are the Consumer Price Index (CPI) and the GDP price deflator.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time searching for rummage sales looking to buy either a combination CD player, clock radio, and telephone (with answering machine) or a revolving spice rack. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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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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"It is part of the American character to consider nothing as desperate. " -- President Thomas Jefferson
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JF
Journal of Finance
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