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LOSS MINIMIZATION RULE: A rule stating that firm minimizes economic loss by producing output in the short run that equates marginal revenue and marginal cost if price is less than average total cost but greater than average variable cost. In the short run, a firm incurs total fixed cost whether or not it produces any output. As such, if the market price is falls below average total cost, it must decide if the economic loss from producing the quantity of output that equates marginal revenue and marginal cost is more or less than the economic loss incurred with shutting down production in the short run (which is equal to total fixed cost).
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BROWN PRAGMATOX
Your compete MICRO*scope for today
You are the type of person who is down-to-earth and pragmatic, practical and sensible, and even a bit folksy. Family and friends never, never, never try to convince you of an alternative point of view, political or otherwise. Today, you are likely to spend a great deal of time wandering around the shopping mall seeking to buy either a remote controlled ceiling fan or a how-to book on home decorating. Be on the lookout for empty parking spaces that appear to be near the entrance to a store. You should consider shopping at stores or businesses beginning with the letter P, but do not buy any products with a serial number or product code containing the number 709155. Your preferred shopping venue is thrift stores. Your special symbol is the comma (,).
Is this You?
As a Brown Pragmatox, you are down-to-earth and practical. You are hard working and industrious. You are frugal to the point that you might even refrain from making a purchase that you really, really need. Doing so often causes problems down the road. You definitely go with function over form and substance over style.
This isn't me! What am I?
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MANAGED FLEXIBLE EXCHANGE RATE An exchange rate control policy in which an exchange rate that is generally allowed to adjust to equilibrium levels through to the interaction of supply and demand in the foreign exchange market, but with occasional intervention by government. Also termed managed float or dirty float, most nations of the world currently use a managed flexible exchange rate policy. With this alternative an exchange rate is free to rise and fall, but it is subject to government control if it moves too high or too low. With managed float, the government steps into the foreign exchange market and buys or sells whatever currency is necessary keep the exchange rate within desired limits. This is one of three basic exchange rate policies used by domestic governments. The other two policies are flexible exchange rate and fixed exchange rate.
Complete Entry | Visit the WEB*pedia |
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Some Prime Stuff On INTEREST RATESOne unexpected benefit from our foot-paced view of the economy is loose change. Keeping our eyes to the ground has uncovered a nickel here, a quarter there, and an occasional dollar bill. My total is up to $137.65, an amount that I'm reluctant to keep on my person. Fortunately Interstate OmniBank has a branch very close the Dr. Nova Cain's dental office. I can deposit my booty into a safe, secure savings account under the watchful eyes of Interstate OmniBank employees, to be withdrawn if needed at a later date. Not only will Interstate OmniBank keep my $137.65 safe and secure, they'll also pay me an interest. That's I deal I just can't pass up.
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Two and a half gallons of oil are needed to produce one automobile tire.
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"Do not go where the path may lead, go instead where there is no path and leave a trail." -- Ralph Waldo Emerson
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ADV PMT
Advance Payment
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