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PHYSICAL ASSET: A productive resource, capital, property, or satisfaction-generating good. Also termed real asset. This should be contrasted with financial assets that are legal claims on physical assets.
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MARGINAL COST AND LAW OF DIMINISHING MARGINAL RETURNS Decreasing then increasing marginal cost, reflected by a U-shaped marginal cost curve, is the result of increasing then decreasing marginal returns. In particular the decreasing marginal returns is caused by the law of diminishing marginal returns. As such, the law of diminishing marginal returns affects not only the short-run production of a firm but also the cost of short-run production. This translates into a positively-sloped supply curve for profit-maximizing competitive firms.
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BLACK DISMALAPOD
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Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius trying to buy either a birthday greeting card for your aunt or a wall poster commemorating the moon landing. Be on the lookout for a thesaurus filled with typos.
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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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"There's only one way to succeed in anything, and that is to give everything. " -- Vince Lombardi
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TI
Taxable Income
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