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VERTICAL AXIS: In a graph, this is one of two lines that intersect at a right angle. This is the 'Y-axis' that runs up and down.
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MARGINAL PRODUCTIVITY THEORY A theory used to analyze the profit-maximizing quantity of inputs (that is, the services of factor of productions) purchased by a firm in the production of output. Marginal-productivity theory indicates that the demand for a factor of production is based on the marginal product of the factor. In particular, a firm is generally willing to pay a higher price for an input that is more productive and contributes more to output. The demand for an input is thus best termed a derived demand.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time at an auction looking to buy either a large, stuffed giraffe or a birthday greeting card for your aunt. Be on the lookout for slow moving vehicles with darkened windows.
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This isn't me! What am I?
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On a typical day, the United States Mint produces over $1 million worth of dimes.
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"You are younger today than you will ever be again. Make use of it for the sake of tomorrow. " -- Norman Cousins, editor
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ARP
Average Revenue Product
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