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GOVERNMENT DEBT: The total amount of all government securities outstanding. This is also frequently termed the public debt.
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AVERAGE FACTOR COST CURVE, PERFECT COMPETITION A curve that graphically represents the relation between average factor cost incurred by a perfectly competitive firm for employing an input and the quantity of input used. Because average factor cost is essentially the price of the input, the average factor cost curve is also the supply curve for the input. The average factor cost curve for a perfectly competitive firm with no market control is horizontal. The average revenue curve for a firm with market control is positively sloped.
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Rosemary, long associated with remembrance, was worn as wreaths by students in ancient Greece during exams.
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"I do the best I know how, the very best I can, and I mean to keep doing so until the end. " -- Abraham Lincoln, 16th US president
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NYMEX
New York Mercantile Exchange
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