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CHANGE IN QUANTITY SUPPLIED: The movement along a supply curve caused by a change in the price of the good. This should be contrasted directly with a change in supply. You might also want to review the terms change in quantity demanded and change in demand, as well. A change in quantity supplied means that we have identified a NEW quantity on the existing supply curve. In contrast, a change in supply means that we have changed, moved, or shifted, the entire supply curve, the whole range of prices and quantities has changed.
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TOTAL FACTOR COST, PERFECT COMPETITION The opportunity cost incurred by a perfectly competitive firm when using a given factor of production to produce a good or service. This is the total cost associated with the use of a particular resource or factor of production--it is the total cost of the factor. For a perfectly competitive firm, the price paid is constant and total factor cost increases at a constant rate. Total factor cost is predominately used in the analysis of the factor market. Two derivative factor cost measures are average factor cost and marginal factor cost.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time lost in your local discount super center looking to buy either high-gloss photo paper that works with your printer or a desktop calendar with all federal and state holidays highlighted. Be on the lookout for malfunctioning pocket calculators.
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This isn't me! What am I?
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Before 1933, the U.S. dime was legal as payment only in transactions of $10 or less.
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"Don't be afraid if things seem difficult in the beginning. That's only the initial impression. The important thing is not to retreat; you have to master yourself." -- Olga Korbut, Gymnast
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CCA
Capital Cost Allowance
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