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WEIGHT GAINING: An activity in which the transportation cost of the output is greater than the transportation cost of the inputs. Using the term weight to mean transportation cost, an activity is said to gain weight if the cost of moving the output to the market is greater than the cost of getting the inputs to the factory. A weight-gaining activity has a greater attraction to, and tends to locate near, the market for the output.
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PERFECT COMPETITION, LONG-RUN EQUILIBRIUM CONDITIONS The long-run equilibrium of a perfectly competitive industry generates six specific equilibrium conditions, including: (1) economic efficiency (P = MC), (2) profit maximization (MR = MC), (3) perfect competition (MR = AR = P), (4) breakeven output (P = AR = ATC), (5) minimum production cost (MC = ATC), and (6) minimum efficient scale (MC = ATC = LRAC = LRMC).
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time calling an endless list of 800 numbers seeking to buy either a large, stuffed kitty cat or a cross-cut paper shredder. 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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John Maynard Keynes was born the same year Karl Marx died.
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"He who hesitates is poor. " -- Mel Brooks, writer, director, comedian
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FDI
Foreign Direct Investment
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