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TOTAL FACTOR COST CURVE, MONOPSONY: A curve that graphically represents the relation between total factor cost incurred by a monopsony when using a given factor of production to produce a good or service. The total factor cost curve is most important in factor market analysis for the derivation of the marginal factor cost curve.
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PHENOMENON An event or action that is subject to investigation, analysis, and explanation using the scientific method. Phenomena are the sorts of things that science seeks to explain. They can be common events, like the blowing wind, or unusual, like the extinction of the dinosaurs.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time searching for a specialty store looking to buy either a pair of gray heavy duty boot socks or a 50-foot blue garden hose. Be on the lookout for pencil sharpeners with an attitude.
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This isn't me! What am I?
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Three-forths of the gold mined each year is used to manufacture jewelry.
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"Learning is not compulsory, but neither is survival. " -- W. Edwards Deming, management consultant
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BLUE
Best Linear Unbiased Estimator
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