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RESOURCE PRICES: One of the five supply determinants assumed constant when a supply curve is constructed, and that shift the supply curve when they change. The other four are technology, other prices, sellers' expectations, and number of sellers. Resource prices, the prices paid to use the factors of production (labor, capital, land, and entrepreneurship) affect production cost and thus producers' ability to sell goods. In general, if sellers face higher resource prices, then they have less ABILITY to sell goods.
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INCREASING-COST INDUSTRY A perfectly competitive industry with a positively-sloped long-run industry supply curve that results because expansion of the industry causes higher production cost and resource prices. An increasing-cost industry occurs because the entry of new firms, prompted by an increase in demand, causes the long-run average cost curve of each firm to shift upward, which increases the minimum efficient scale of production.
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It's estimated that the U.S. economy has about $20 million of counterfeit currency in circulation, less than 0.001 perecent of the total legal currency.
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"Leadership is the art of getting someone else to do something you want done because he wants to do it." -- Dwight Eisenhower, 34th US president
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PVCF
Present Value Cash Flow
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