|
|
TOTAL VARIABLE COST CURVE: A curve that graphically represents the relation between total variable cost incurred by a firm in the short-run production of a good or service and the quantity produced. The marginal cost curve, THE focal point for the analysis of short-run production, can be derived directly from the total variable cost curve. The shape of the total variable cost curve reflects increasing marginal returns at small quantities of output and decreasing marginal returns at later quantities.
Visit the GLOSS*arama
|
|

|
|
|
BUYERS' EXPECTATIONS, DEMAND DETERMINANT The expectations that buyers have concerning the future price of a good, which is assumed constant when a demand curve is constructed. Buyers' expectations are one of five demand determinants that shift the demand curve when they change. The other four are buyers' income, buyers' preferences, other prices, and number of buyers.
Complete Entry | Visit the WEB*pedia |


|
|
BLACK DISMALAPOD [What's This?]
Today, you are likely to spend a great deal of time going from convenience store to convenience store trying to buy either a wall poster commemorating next Thursday or a pair of gray heavy duty boot socks. Be on the lookout for jovial bank tellers. Your Complete Scope
This isn't me! What am I?
|
|
|
More money is spent on gardening than on any other hobby.
|
|
|
"Believe and act as if it were impossible to fail." -- Charles F. Kettering
|
|
PRO RATA According to the Rate (Latin)
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|

|