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INDEX OF CONSUMER SENTIMENT: A measure of consumer attitudes, preferences, and expectations concerning the state of the economy and business-cycle conditions that is compiled each month by the Survey Research Center at the University of Michigan. The Index of Consumer Sentiment is one of two primary measures of consumer attitudes. The other is the Consumer Confidence Index developed by The Conference Board.
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ECONOMIES OF SCALE Declining long-run average cost that occurs as a firm increases all inputs and expands its scale of production. Economies of scale result from increasing returns to scale and are graphically illustrated by a negatively-sloped long-run average cost curve. Economies of scale usually occur for relatively small levels of production and are then overwhelmed by diseconomies of scale for relatively large production levels. Together, economies of scale and diseconomies of scale create a U-shaped long-run average cost curve.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time surfing the Internet hoping to buy either a pair of gray heavy duty boot socks or a 50-foot blue garden hose. Be on the lookout for telephone calls from long-lost relatives.
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This isn't me! What am I?
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The standard "debt" notation I.O.U. does not mean "I owe you," but actually stands for "I owe unto..."
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"In the long run men hit only what they aim at. " -- Henry David Thoreau, philosopher
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TP
Total Product
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