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ANTIDUMPING DUTY: A tariff levied by an imported country (presumably) being the target of foreign dumping. Since dumping implies selling a good to a foreign country at a price below production cost, the antidumping duty is intended to offset the 'unfair' advantage that the foreign seller obtains by selling below cost. The antidumping duty raises the domestic price of the good to the level that the foreign producer would charged if true costs were considered.
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MARGINAL COST CURVE A curve that graphically represents the relation between the marginal cost incurred by a firm in the short-run product of a good or service and the quantity of output produced. This curve is constructed to capture the relation between marginal cost and the level of output, holding other variables like technology and resource prices constant. Three related curves are average total cost curve, average variable cost curve, and average fixed cost curve.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time at a going out of business sale looking to buy either a wall poster commemorating the 2000 Presidential election or a rechargeable flashlight. Be on the lookout for fairy dust that tastes like salt.
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This isn't me! What am I?
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The wealthy industrialist, Andrew Carnegie, was once removed from a London tram because he lacked the money needed for the fare.
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"Far and away the best prize that life has to offer is the chance to work hard at work worth doing." -- Theodore Roosevelt, 26th US president
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BJE
Bell Journal of Economics
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