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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.
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AVERAGE COST The opportunity cost incurred per unit of good produced. This is calculated by dividing the cost of production by the quantity of output produced. While average cost is a general term relating cost and the quantity of output, three specific average cost terms are average total cost, average variable cost, and average fixed cost. A related cost term is marginal cost.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time browsing about a thrift store hoping to buy either several magazines on fashion design or a package of 3 by 5 index cards, the ones without lines. Be on the lookout for fairy dust that tastes like salt.
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This isn't me! What am I?
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Woodrow Wilson's portrait adorned the $100,000 bill that was removed from circulation in 1929. Woodrow Wilson was removed from circulation in 1924.
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"It had long since come to my attention that people of accomplishment rarely sat back and let things happen to them. They went out and happened to things. " -- Elinor Smith, aviator
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ADV FRT
Advance Freight
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