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Y-AXIS: In a graph, this is one of two lines that intersect at a right angle. This is the "vertical axis" that runs up and down.
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AVERAGE FIXED COST Total fixed cost per unit of output, found by dividing total fixed cost by the quantity of output. When compared with price (per unit revenue), average fixed cost (AFC) indicates whether or not a profit-maximizing firm should shutdown production in the short run. Average fixed cost is one of three average cost concepts important to short-run production analysis. The other two are average total cost and average variable cost. A related concept is marginal cost.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time watching infomercials hoping to buy either a bottle of blackcherry flavored spring water or a travel case for you toothbrush. Be on the lookout for cardboard boxes.
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This isn't me! What am I?
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The Dow Jones family of stock market price indexes began with a simple average of 11 stock prices in 1884.
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"The only profit center is the customer. " -- Peter Drucker, management consultant
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TVC
Total Variable Cost
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