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TOTAL COST CURVE: A curve that graphically represents the relation between total cost incurred by a firm in the short-run production of a good or service and the quantity produced. The total cost curve is a cornerstone upon which the analysis of a firm's short-run production is built. It combines all of a firm's opportunity costs into a single curve, which can then be used with the firm's total revenue curve to determine profit.
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MARGINAL REVENUE PRODUCT CURVE A curve that graphically illustrates the relation between marginal revenue product and the quantity of the variable input, holding all other inputs fixed. This curve indicates the incremental change in total revenue for incremental changes in the variable input. The marginal revenue product curve plays a key role in marginal productivity theory and the economic analysis of factor markets.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time at a flea market hoping to buy either a how-to book on building remote controlled airplanes or an extra large beach blanket. Be on the lookout for defective microphones.
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Much of the $15 million used by the United States to finance the Louisiana Purchase from France was borrowed from European banks.
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"My motto was always to keep swinging. Whether I was in a slump or feeling badly or having trouble off the field, the only thing to do was keep swinging. " -- Hank Aaron, baseball player
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LAN
Locally Asymptotically Normal
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