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June 8, 2025 

AmosWEB means Economics with a Touch of Whimsy!

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PERFECT COMPETITION, SHUTDOWN: A perfectly competitive firm is presumed to shutdown production and produce no output in the short run, if price is less than average variable cost. This is one of three short-run production alternatives facing a firm. The other two are profit maximization (if price exceeds average total cost) and loss minimization (if price is greater than average variable cost but less than average total cost).

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AmosWEB is an Internet-based resource of economics information offered by AmosWEB LLC. AmosWEB LLC was established April 1, 2000 to publish economics information and instructional resources through the World Wide Web.

At AmosWEB, we take economics seriously, but with a touch of whimsy. We recognize the importance of economics to our lives, careers, and citizenship, but we try to have a little fun with it along the way. On the one had... serious. On the other hand... whimsical. A balance much like that of demand and supply.

AmosWEB began its Internet existence under the name AmosWORLD. (You might see AmosWEB listed as AmosWORLD in some search engines. AmosWorld.com is currently maintained by a talented artist named Amos Kmiec.) We have been providing economics information through the World Wide Web since the earliest days of the World Wide Web, when memory was measured in kilobytes, disks were floppy, and PPP was the primary way to get online.

Over the years, we've provided economics information to students, instructors, and web surfers on six continents (we're still working on Antarctic). We have consistently ranked in the top 10 percent of all websites on the Internet (according to Rank.com). Our most popular resource is the AmosWEB GLOSS*arama, an extensive glossary of economics terms and concepts. We also offer the increasingly popular AmosWEB Encyclonomic WEB*pedia, and encyclopedia of economics.

We're also very proud of the AmosWEB eTutor, a subscription service used by all sorts of students seeking a little extra help with their course work and the AmosWEB Programmed Learning System (A*PLS), an integrated online learning system designed for traditional classes, hybrid courses, and online distance learning.

The principle author and content developer of AmosWEB is Orley M. Amos, PhD, a Professor of Economics at Oklahoma State University with a couple of decades of instructional experience. Assistance has been provided over the years by Antonio Avalos, PhD, an Assistant Professor of Economics at California State University, Fresno.

AmosWEB LLC is presently based in Stillwater, Oklahoma with a branch office in Wichita, Kansas.

Written correspondence concerning can be directed to AmosWEB, 1411 North Grandview Court, Stillwater, Oklahoma, 74075-6903. Email correspondence can be sent to AmosWEB WebMaster.

SLOPE, PRODUCTION POSSIBILITIES CURVE

The numerical value of the slope of the production possibilities curve, which illustrates the alternative combinations of two goods that an economy can produce with given resources and technology, is the opportunity cost of producing the good measured on the horizontal axis.

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Those Astronomical ATHLETE SALARIES

It's a great day to take in a ball game, don't you think? With our hustling, bustling jaunt through the economy, we probably deserve a relaxing afternoon of hot dogs and peanuts with my favorite baseball team -- the Shady Valley Primadonnas. Of course the hot dogs and peanuts are overpriced, and you might need a second mortgage on your house to buy the ticket, but the expense is worth watching of the finest athletes in the world display their world-class athletic abilities. We might even coax an autograph from the Primadonnas all-star centerfielder -- Harold "Hair Doo" Dueterman.
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[What's This?]

Today, you are likely to spend a great deal of time surfing the Internet hoping to buy either any book written by Isaac Asimov or a how-to book on building remote controlled airplanes. Be on the lookout for high interest rates.
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Lombard Street is London's equivalent of New York's Wall Street.
"Never confuse a single defeat with a final defeat."

-- F. Scott Fitzgerald, writer

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