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REAL PRODUCTION: The market value of all production measured in constant prices, after adjusting for inflation. Real production is typically measured with real GDP.
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MARGINAL REVENUE PRODUCT CURVE A curve that graphically illustrates the relation between marginal revenue product and the quantity of the variable input, holding all other inputs fixed. This curve indicates the incremental change in total revenue for incremental changes in the variable input. The marginal revenue product curve plays a key role in marginal productivity theory and the economic analysis of factor markets.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time flipping through mail order catalogs hoping to buy either an AC adapter for your CD player or storage boxes for your family photos. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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This isn't me! What am I?
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A half gallon milk jug holds about $50 in pennies.
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"Be kind and merciful. Let no one ever come to you without coming away better and happier." -- Mother Teresa of Calcutta, humanitarian
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LF
Labor Force, Laissez-Faire
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