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August 12, 2026 

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RESERVATION PRICE: The lowest price at which a supplier is willing to supply any amount of a good. This is usually based on the minimum cost of production. For labor, it's the lowest wage that makes it worthwhile to get up in the morning, miss your favorite daytime television shows, and go to work.

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EFFICIENT INFORMATION SEARCH

A comparison between the cost of acquiring information and the benefit generated by the information such that it is not possible to increase welfare or well being by acquiring any more of any less information. Efficient information search is achieved by equating the marginal cost of search with the benefit of search. This efficiency is comparable to the profit-maximizing decision by a producer and the utility-maximizing decision by a consumer.

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APLS

BROWN PRAGMATOX
[What's This?]

Today, you are likely to spend a great deal of time strolling through a department store looking to buy either a brown leather attache case or car battery jumper cables. Be on the lookout for cardboard boxes.
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This isn't me! What am I?

The average length of a "business lunch" is about 36 minutes.
"People of mediocre ability sometimes achieve outstanding success because they don't know when to quit. Most men succeed because they are determined to. "

-- George Allen, U.S. senator

NDP
Net Domestic Product
A PEDestrian's Guide
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