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AGGREGATE SUPPLY SHIFTS: Changes in the aggregate supply determinants can shift either the short-run aggregate supply curve and the long-run aggregate supply curve. The mechanism is comparable to that for market supply determinants and market supply. We have two options -- an increase in aggregate supply and a decrease in aggregate supply. An increase in resource quantity or quality or a decrease in resource prices shift the aggregate supply curves to right. A decrease in resource quantity or quality or an increase in resource prices shift the aggregate supply curves to left.
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AVERAGE FIXED COST Total fixed cost per unit of output, found by dividing total fixed cost by the quantity of output. When compared with price (per unit revenue), average fixed cost (AFC) indicates whether or not a profit-maximizing firm should shutdown production in the short run. Average fixed cost is one of three average cost concepts important to short-run production analysis. The other two are average total cost and average variable cost. A related concept is marginal cost.
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GREEN LOGIGUIN
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Today, you are likely to spend a great deal of time searching the newspaper want ads seeking to buy either looseleaf notebook paper or a three-hole paper punch. Be on the lookout for celebrities who speak directly to you through your television.
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A scripophilist is one who collects rare stock and bond certificates, usually from extinct companies.
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"Difficulties mastered are opportunities won. " -- Winston Churchill, Statesman
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TVC
Total Variable Cost
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