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TRANS-SHIPMENT POINT: A location that serves as a change from one transportation mode to another, such as from boat to train or truck to plane. Location theory indicates that trans-shipment points serve as a point of attraction for economic activity by virtue of saving terminal (load and unloading) cost. This indicates why harbors, interstate highway exits, railroad depots, and similar off-one-mode-onto-another-mode have historical emerged as economic centers.
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MARGINAL FACTOR COST The change in total factor cost resulting from a change in the quantity of factor input employed by a firm. Marginal factor cost, abbreviated MFC, indicates how total factor cost changes with the employment of one more input. It is found by dividing the change in total factor cost by the change in the quantity of input used. Marginal factor cost is compared with marginal revenue product to identify the profit-maximizing quantity of input to hire.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time driving to a factory outlet looking to buy either a wall poster commemorating the 2000 Presidential election or a rechargeable flashlight. Be on the lookout for vindictive digital clocks with revenge on their minds.
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This isn't me! What am I?
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Lombard Street is London's equivalent of New York's Wall Street.
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"Each of us is issued but one life, and we know full well how it all ends. It would be regrettable to squander this one chance on someone else's appearance, someone else's experience. " -- Joseph Brodsky, Writer
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WPO
Weakly Pareto Optimal
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