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LIABILITY: Something that you owe. The biggest liabilities for most consumers are loans, including mortgages, car loans, credit-card balances, and installment accounts at stores.

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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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Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club trying to buy either decorative celebrity figurines or a flower arrangement with anything but tulips for your grandfather. Be on the lookout for defective microphones.
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In his older years, Andrew Carnegie seldom carried money because he was offended by its sight and touch.
"If you don't know where you are going, any road will get you there."

-- Lewis Carroll, writer

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American Assocation of Commercial Publications
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