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COMPANY: An organization, usually consisting of more than one person, that combines resources for the production and supply of goods and services. The term company is generally used synonymously with other terms such as business, firm, and enterprise. If a distinction exists, company is used in reference to a group of people engaged in production (as opposed to a single person).
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AVERAGE FIXED COST CURVE A curve that graphically represents the relation between average fixed 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 fixed cost and the level of output, holding other variables, like technology and resource prices, constant. The average fixed cost curve is one of three average curves. The other two are average total cost curve and average variable cost curve. A related curve is the marginal cost curve.
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Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
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"No task is a long one but the task on which one dare not start: It becomes a nightmare. " -- Charles Baudelaire, poet-critic
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UR
Unemployment Rate
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