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LIABILITY: Something that you owe. The biggest liabilities for most consumers are loans, including mortgages, car loans, credit-card balances, and installment accounts at stores.
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AVERAGE TOTAL COST Total cost per unit of output, found by dividing total cost by the quantity of output. When compared with price (per unit revenue), average total cost (ATC) indicates the per unit profitability of a profit-maximizing firm. Average total cost is one of three average cost concepts important to short-run production analysis. The other two are average fixed cost and average variable cost. A related concept is marginal cost.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store seeking to buy either several orange mixing bowls or clothing for your pet dog. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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The average length of a "business lunch" is about 36 minutes.
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"I don't know the key to success, but the key to failure is trying to please everybody. " -- Bill Cosby
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ATC
Average Total Cost
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