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MARGINAL PRODUCT CURVE: A curve that graphically illustrates the relation between marginal product and the quantity of the variable input, holding all other inputs fixed. This curve indicates the incremental change in output at each level of the variable input. The marginal product curve is one of three related curves used in the analysis of the short-run production of a firm. The other two are total product curve and average product curve. The marginal product curve plays in key role in the economic analysis of short-run production by a firm in large part because economists are generally obsessed with marginal changes in production.
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FACTORS OF PRODUCTION Labor, capital, land, and entrepreneurship used by society to produce consumer satisfying goods and services. Factors of production are also termed resources or scarce resources.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time wandering around the downtown area looking to buy either a case of blank recordable DVDs or a pair of red goulashes with shiny buckles. Be on the lookout for attractive cable television service repair people.
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Lombard Street is London's equivalent of New York's Wall Street.
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"A successful man is one who can lay a firm foundation with the bricks others have thrown at him. " -- David Brinkley, newsman
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FX
Foreign Exchange
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