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LAW OF INCREASING OPPORTUNITY COST: The proposition that opportunity cost, the value of foregone production, increases as more of a good is produced. This "law" can be seen in the production possibilities schedule and is illustrated graphically through the slope of the production possibilities curve. It generates the distinctive convex shape of the curve, making it flat at the top and steep at the bottom.
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BROWN PRAGMATOX
Your compete MICRO*scope for today
You are the type of person who never wavers in the pursuit of a goal once you have deemed it worth pursuing. Family and friends realize that you carefully consider every expenditure that you make. Today, you are likely to spend a great deal of time driving to a factory outlet looking to buy either storage boxes for your summer clothes or 500 feet of coaxial cable. Be on the lookout for cardboard boxes. You should consider shopping at stores or businesses beginning with the letter B, but do not buy any products with a serial number or product code containing the number 267073. 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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ENDPOINT ELASTICITY FORMULA A simple technique for calculating the coefficient of elasticity by estimating the elasticity for discrete changes in two variables using the initial values of each. The distinguishing characteristic of this formula is that percentage changes are calculated based on the initial values of each variable. An alternative technique is the midpoint elasticity formula.
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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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"If anything terrifies me, I must try to conquer it. " -- Francis Charles Chichester, yachtsman, aviator
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BPEA
Brookings Papers on Economic Activity
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