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TOTAL PRODUCT AND AVERAGE PRODUCT: A graphical connection between total product curve and average product curve stating that the slope of a line between the origin and any point on the total product curve is equal to the average product. Imagine a ray shooting out of the origin and hitting the total product curve. As this ray hits each point on the curve, remaining anchored at the origin, the slope of the ray changes. And the slope of this ray is average product.
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ELASTICITY ALTERNATIVES, DEMAND Five categories of the price elasticity of demand that reflect the entire range of the relative responsiveness of a change in quantity demanded to a change in price. These five alternatives--perfectly elastic, relatively elastic, unit elastic, relatively inelastic, and perfectly inelastic--are often illustrated by different demand curves. The price elasticity of supply is also reflected by five comparable alternatives.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time at a flea market wanting to buy either a handcrafted bird feeder or a New York Yankees baseball cap. Be on the lookout for small children selling products door-to-door.
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This isn't me! What am I?
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Natural gas has no odor. The smell is added artificially so that leaks can be detected.
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"He who truly knows has no occasion to shout. " -- Leonardo da Vinci, painter, sculptor, architect, engineer
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MLR
Minimum Lending Rate
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