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LIMITED LIABILITY COMPANY: A relatively new legal firm type that operates very much like a partnership, but in which every owner has limited liability. The advantage of a limited liability company, over a limited partnership, is that every owner has limited liability. It also has advantages over an S corporation in that very few restrictions exist on who can be an owner.

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MARGINAL FACTOR COST CURVE, MONOPSONY

A curve that graphically represents the relation between marginal factor cost incurred by a monopsony for hiring an input and the quantity of input employed. A profit-maximizing monopsony hires the quantity of input found at the intersection of the marginal factor cost curve and marginal revenue product curve. The marginal factor cost curve for a monopsony with market control is positively sloped and lies above the average factor cost curve.

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Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club looking to buy either storage boxes for your summer clothes or 500 feet of coaxial cable. Be on the lookout for defective microphones.
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The word "fiscal" is derived from a Latin word meaning "moneybag."
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