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CONCAVE: A curve that is 'bowed-in' toward the origin, like entering a cave. Technically speaking, the slope of a concave curve decreases from left to right as the X-axis variable increases.
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MARGINAL FACTOR COST, PERFECT COMPETITION The change in total factor cost resulting from a change in the quantity of factor input employed by a perfectly competitive firm. 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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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time wandering around the shopping mall looking to buy either a New York Yankees baseball cap or several magazines on home repairs. Be on the lookout for neighborhood pets, especially belligerent parrots.
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In the Middle Ages, pepper was used for bartering, and it was often more valuable and stable in value than gold.
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"Success is where preparation and opportunity meet." -- Bobby Unser, Race car driver
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WFTU
World Federation of Trade Unions
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