|
|
JOINT PRODUCT: One of two goods that are produced jointly using the same resource--that is, the production of one good automatically triggers the production of the other. Also termed by-products or complements-in-production, a noted example is the production of two goods--beef and leather--from one resource--cattle. Another joint product example is lumber and sawdust--both produced from a single tree.
Visit the GLOSS*arama
|
|
|
|
|
AVERAGE FIXED COST CURVE A curve that graphically represents the relation between average fixed cost incurred by a firm in the short-run product of a good or service and the quantity produced. This curve is constructed to capture the relation between average fixed cost and the level of output, holding other variables, like technology and resource prices, constant. The average fixed cost curve is one of three average curves. The other two are average total cost curve and average variable cost curve. A related curve is the marginal cost curve.
Complete Entry | Visit the WEB*pedia |
|
|
ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time wandering around the shopping mall trying to buy either decorative picture frames or storage boxes for your income tax returns. Be on the lookout for the last item on a shelf.
Your Complete Scope
This isn't me! What am I?
|
|
|
The earliest known use of paper currency was about 1270 in China during the rule of Kubla Khan.
|
|
|
"No man, for any considerable time, can wear one face to himself and another to the multitude without finally getting bewildered as to which may be true." -- Nathanial Hawthorne, Author
|
|
G7
Group of Seven
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
