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ANTITRUST: The generally process of preventing monopoly practices or breaking up monopolies that restrict competition. The term antitrust derives from the common use of the trust organizational structure in the late 1800s and early 1900s to monopolize markets. The most noted example of the use of a monopoly trust was the Standard Oil Trust, controlled by J. D. Rockefeller and dismantled through the Sherman Act in 1911. The creation of similar monopoly trusts led to the several antitrust laws, including the Sherman Act, the Clayton Act, and the Federal Trade Commission Act.
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AVERAGE FACTOR COST CURVE, MONOPSONY A curve that graphically represents the relation between average factor cost incurred by a firm for employing an input and the quantity of input used. Because average factor cost is essentially the price of the input, the average factor cost curve is also the supply curve for the input. The average factor cost curve for a firm with no market control is horizontal. The average factor cost curve for a firm with market control is positively sloped.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time at an auction looking to buy either a T-shirt commemorating last Friday (you know why) or a rotisserie oven that can also toast bread. Be on the lookout for poorly written technical manuals.
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A half gallon milk jug holds about $50 in pennies.
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"I can't change the direction of the wind, but I can adjust my sails to always reach my destination." -- Jimmy Dean
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AVT
Ad Valorem Taxes
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