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SLOPE, PRODUCTION POSSIBILITIES CURVE: The numerical value of the slope of the production possibilities curve is the opportunity cost of producing the good measured on the horizontal axis.
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PERFECT COMPETITION, PROFIT ANALYSIS A perfectly competitive firm produces the profit-maximizing quantity of output that generates the highest level of profit. This profit approach is one of three methods that used to determine the profit-maximizing quantity of output. The other two methods involve a comparison of total revenue and total cost or a comparison of marginal revenue and marginal cost.
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The average length of a "business lunch" is about 36 minutes.
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"If you wouldn't write it and sign it, don't say it." -- Earl Wilson, Columnist
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MSE
Mean Square Error
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