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CAVEAT EMPTOR: A handy little latin term meaning to "let the buyer beware." It's a warning to buyers that sellers will try to extract a high price for low-quality stuff, and a heed that every hardworking consumer of the third estate should take. If you find you've been "taken", note that government has established consumer protection guidelines that businesses are legally compelled to follow. As such, you can seek action through the Federal Trade Commission, Consumer Product Safety Commission, your state attorney general, and in all likelihood your local police department.
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CONSTANT-COST INDUSTRY A perfectly competitive industry with a horizontal long-run industry supply curve that results because expansion of the industry causes no change in production cost or resource prices. A constant-cost industry occurs because the entry of new firms, prompted by an increase in demand, does not affect the long-run average cost curve of individual firms, which means the minimum efficient scale of production does not change.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time surfing the Internet seeking to buy either a T-shirt commemorating the first day of spring or a coffee cup commemorating last Friday (you know why). Be on the lookout for broken fingernail clippers.
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This isn't me! What am I?
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Francis Bacon (1561-1626), a champion of the scientific method, died when he caught a severe cold while attempting to preserve a chicken by filling it with snow.
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"It is the mark of an educated mind to be able to entertain a thought without accepting it." -- Aristotle
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RATS
Regression Analysis of Time Series (software)
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