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LIABILITY: Something that you owe. The biggest liabilities for most consumers are loans, including mortgages, car loans, credit-card balances, and installment accounts at stores.

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SHUTDOWN RULE

A rule stating that a firm minimizes economic loss by producing no output in the short run if price is less than average variable cost. This is one of three short-run production alternatives facing a firm. The other two are profit maximization (if price exceeds average total cost) and loss minimization (if price is less than average total cost but greater than average variable cost).

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APLS

BROWN PRAGMATOX
[What's This?]

Today, you are likely to spend a great deal of time watching the shopping channel trying to buy either a New York Yankees baseball cap or several magazines on home repairs. Be on the lookout for malfunctioning pocket calculators.
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The first U.S. fire insurance company was established by Benjamin Franklin in 1752 in Philadelphia.
"The will to win is important, but the will to prepare is vital. "

-- Joe Paterno, football coach

WLLN
Weak Law of Large Numbers
A PEDestrian's Guide
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