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RATIONAL BEHAVIOR: The notion that people make decisions based on the desire to obtain the greatest amount of satisfaction. Rational behavior essential means that people prefer more to less. The presumption of rational behavior underlies most economic analyses, especially those applied to consumer demand theory.
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AVERAGE VARIABLE COST CURVE A curve that graphically represents the relation between average variable cost incurred by a firm in the short-run product of a good or service and the quantity produced. This curve is constructed to capture the relation between average variable cost and the level of output, holding other variables, like technology and resource prices, constant. The average variable cost curve is one of three average curves. The other two are average total cost curve and average fixed cost curve. A related curve is the marginal cost curve.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time wandering around the shopping mall seeking to buy either an electric coffee pot with automatic shutoff or a brown leather attache case. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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General Electric is the only stock from the original 1896 Dow Jones Industrial Average remaining in the current index.
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"We should never allow ourselves to be bullied by an either-or. There is often the possibility of something better than either of those two alternatives. " -- Mary Parker Follett, management coach
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CPI-W
Consumer Price Index-Urban Wage Earners and Clerical Workers
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