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PER UNIT TAX: A tax that is specified as a fixed amount for each unit of a good sold. Federal excise taxes on gasoline and cigarettes fall into this per unit tax category.
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MARGINAL FACTOR COST, PERFECT COMPETITION The change in total factor cost resulting from a change in the quantity of factor input employed by a perfectly competitive firm. 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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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time watching the shopping channel wanting to buy either a pair of leather sandals that won't cause blisters or clothing for your kitty cats. Be on the lookout for infected paper cuts.
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Two and a half gallons of oil are needed to produce one automobile tire.
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"It is not the mountain we conquer, but ourselves. " -- Sir Edmund Hillary, Explorer
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ACCR
Annual Cost of Capital Recovery
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