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REGIONAL ECONOMICS: The economic study of regions based on the consideration of space, transportation cost, and location in production and consumption decisions. Regional economics studies a wide variety of topics, including the migration of labor, the macroeconomic activity in cities and states, and the location choices of firms. A closely related area of study that focuses on economic activity within and between cities is termed urban economics.
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AVERAGE FACTOR COST CURVE A curve that graphically represents the relation between average factor cost incurred by a firm for employing an input and the quantity of input used. Because average factor cost is essentially the price of the input, the average factor cost curve is also the supply curve for the input. The average factor cost curve for a firm with no market control is horizontal. The average revenue curve for a firm with market control is positively sloped.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time going from convenience store to convenience store seeking to buy either a set of luggage with wheels or a birthday gift for your aunt. Be on the lookout for fairy dust that tastes like salt.
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In his older years, Andrew Carnegie seldom carried money because he was offended by its sight and touch.
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"Defeat is simply a signal to press onward." -- Helen Keller, lecturer, author
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MBA
Master of Business Administration
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