|
|
INDIFFERENCE CURVE: A curve that graphically depicts various combinations of goods that generate the same level of utility to a consumer. In other words, a consumer is "indifferent" among any of the bundles because they all provide the same satisfaction. Indifference curves are combined with a budget line or constraint for indifference curve analysis used to explain many aspects of demand, including the slope of the demand curve and the income and substitution effects.
Visit the GLOSS*arama
|
|
|
|
|
MARGINAL FACTOR COST CURVE A curve that graphically represents the relation between marginal factor cost incurred by a firm for hiring an input and the quantity of input employed. A profit-maximizing firm hires the quantity of input found at the intersection of the marginal factor cost curve and marginal revenue product curve. The marginal factor cost curve for a firm with no market control is horizontal. The marginal factor cost curve for a firm with market control is positively sloped and lies above the average factor cost curve.
Complete Entry | Visit the WEB*pedia |
|
|
WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time at an auction wanting to buy either a handcrafted bird house or a weathervane with a chicken on top. Be on the lookout for mail order catalogs with hidden messages.
Your Complete Scope
This isn't me! What am I?
|
|
|
The first paper currency used in North America was pasteboard playing cards "temporarily" authorized as money by the colonial governor of French Canada, awaiting "real money" from France.
|
|
|
"Enthusiasm is the greatest asset in the world. It beats money and power and influence. It is no more or less than faith in action. " -- Henry Chester, Writer
|
|
CME
Chicago Mercantile Exchange
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
