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TOTAL FACTOR COST, MONOPSONY: The opportunity cost incurred by a monopsony when using a given factor of production to produce a good or service. This is the total cost associated with the use of a particular resource or factor of production--it is the total cost of the factor. For monopsony, the price paid increases with the quantity purchased and total factor cost increases at an increasing rate. Total factor cost is predominately used in the analysis of the factor market. Two derivative factor cost measures are average factor cost and marginal factor cost.
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FULL EMPLOYMENT, PRODUCTION POSSIBILITIES Full employment is the condition that exists when all available resources are engaged in the production of goods and services. In other words, all resources that could be used for production are being used. This is indicated in production possibilities analysis by producing a combination of goods that places the economy on the production possibilities curve.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors wanting to buy either a how-to book on home repairs or a large, stuffed kitty cat. Be on the lookout for jovial bank tellers.
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This isn't me! What am I?
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Sixty percent of big-firm executives said the cover letter is as important or more important than the resume itself when you're looking for a new job
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"In the long run men hit only what they aim at. " -- Henry David Thoreau, philosopher
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RATS
Regression Analysis of Time Series (software)
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