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LABOR FORCE PARTICIPATION RATE: The proportion of the total noninstitutionalized civilian population 16 years of age and over that is in the civilian labor force. The labor force participation rate is essentially the ratio of the civilian labor force to the total noninstitutionalized civilian population 16 years of age and over. This ratio indicates the proportion of the available "working age" population that is willing and able to work and is either employed or actively seeking employment.

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TOTAL COST CURVE

A curve that graphically represents the relation between the 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 short-run production is built. It combines all opportunity cost of production into a single curve, which can then be used with the total revenue curve to determine profit. The marginal cost curve, THE focal point for the analysis of short-run production, is derived directly from the total cost curve. The shape of the curve reflects increasing marginal returns at small quantities of output and decreasing marginal returns at larger quantities.

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APLS

PURPLE SMARPHIN
[What's This?]

Today, you are likely to spend a great deal of time at an auction hoping to buy either a pleather CD case or a how-to book on fine dining. Be on the lookout for letters from the Internal Revenue Service.
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This isn't me! What am I?

One of the largest markets for gold in the United States is the manufacturing of class rings.
"It is not the mountain we conquer, but ourselves. "

-- Sir Edmund Hillary, Explorer

ACRS
Accelerated Cost Recovery System
A PEDestrian's Guide
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