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RESERVES: The vault cash and deposits at the Federal Reserve System that banks use to complete day-to-day transactions.
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MARGINAL FACTOR COST, MONOPSONY The change in total factor cost resulting from a change in the quantity of factor input employed by a monopsony. Marginal factor cost, abbreviated MFC, indicates how total factor cost changes with the employment of one more input. It is found by dividing the change in total factor cost by the change in the quantity of input used. Marginal factor cost is compared with marginal revenue product to identify the profit-maximizing quantity of input to hire.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store seeking to buy either a genuine down-filled snow parka or throw pillows for your living room sofa. Be on the lookout for cardboard boxes.
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The wealthy industrialist, Andrew Carnegie, was once removed from a London tram because he lacked the money needed for the fare.
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"Life is a promise; fulfill it. " -- Mother Teresa, humanitarian
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AFC
Average Fixed Cost
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