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MARKET ANALYSIS: The use of the market model to examine economic phenomenon involving demand, supply, prices, and exchanges. The simplest market analysis involves identifying equilibrium price and quantity, which is the point of intersection between the demand and supply curves. Some of the more useful market analysis, however, involves comparative static analysis of shifts in either the demand or supply curves, or both curves simultaneously. Other market analysis examines the consequences of price ceilings, price floors, and taxes.
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RETURNS TO SCALE Changes in production the occur when all resources are proportionately changed in the long run. Returns to scale come in three forms--increasing, decreasing, or constant based on whether the changes in production are proportionally more than, less than, or equal to the proportional changes in inputs. Returns to scale are the guiding principle for long-run production, playing a similar role that the law of diminishing marginal returns plays for short-run production.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors seeking to buy either several magazines on time travel or 500 feet of telephone cable. Be on the lookout for gnomes hiding in cypress trees.
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This isn't me! What am I?
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Sixty percent of big-firm executives said the cover letter is as important or more important than the resume itself when you're looking for a new job
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"Long-range goals keep you from being frustrated by short-term failures " -- J. C. Penney, Retailer
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VAR
Vector Autoregression
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