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WILDCAT STRIKE: An unofficial and usually spontaneous strike or work stoppage by union members. A wildcat strike is not authorized by the labor union representing the workers. Such strikes generally occur because (1) labor has specific problems or concerns that have not been satisfactorily addressed by employers or (2) workers feel that union leaders are not acting in the best interest of the union members. This is also termed an outlaw strike.
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AVERAGE TOTAL COST Total cost per unit of output, found by dividing total cost by the quantity of output. When compared with price (per unit revenue), average total cost (ATC) indicates the per unit profitability of a profit-maximizing firm. Average total cost is one of three average cost concepts important to short-run production analysis. The other two are average fixed cost and average variable cost. A related concept is marginal cost.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time touring the new suburban shopping complex wanting to buy either a T-shirt commemorating next Thursday or a birthday gift for your uncle. Be on the lookout for neighborhood pets, especially belligerent parrots.
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Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
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"Nearly all men can stand adversity; but if you want to test a manžs character, give him power. " -- Abraham Lincoln, 16th U.S. President
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MLE
Maximum Likelihood Estimator
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