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November 18, 2025 

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DECREASING RETURNS TO SCALE: A given proportionate increase in all resources in the long run results in a proportionately smaller increase in production. Decreasing returns to scale exists if a firm increases ALL resources -- labor, capital, and other inputs -- by 10%, and output increases by less than 10%. You might want to compare increasing returns to scale and constant returns to scale.

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BEIGE MUNDORTLE
Your compete MICRO*scope for today

You are the type of person who spends a lot of time ponder life's small questions, such as why yield signs are shaped liked triangles. Family and friends often forget your birthday, your telephone number, your address, and whether or not you actually exist. Today, you are likely to spend a great deal of time watching the shopping channel trying to buy either storage boxes for your family photos or a large, stuffed giraffe. Be on the lookout for florescent light bulbs that hum folk songs from the sixties. You should consider shopping at stores or businesses beginning with the letter A, but do not buy any products with a serial number or product code containing the number 611128. Your preferred shopping venue is discount super centers. Your special symbol is the period (.).


Is this You?

As a Beige Mundortle, you are somewhat dull, somewhat boring, somewhat lusterless. You don't particularly care and you don't really care that you don't care. You know that you have a somewhat drab, lackluster life, and that's just fine with you. You shop when you need to, buy what you have to, and get on with your life. It's just another day, another expenditure. You don't really care to spend a lot of time shopping, but you don't really care to spend a lot of time doing much of anything. Life goes on. So what? Who cares?


This isn't me! What am I?
AVERAGE PRODUCT CURVE

A curve that graphically illustrates the relation between average product and the quantity of the variable input, holding all other inputs fixed. This curve indicates the per unit output at each level of the variable input. The average product curve is one of three related curves used in the analysis of the short-run production of a firm. The other two are total product curve and marginal product curve.

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BUSINESS As Usual

In the same mini-mall with Dr. Nova Cain's dental offices and Smilin' Ted's All Comers Insurance Agency, resides Manny Mustard's House of Sandwiches -- one of those small, out-of-the-way, off-the-wall sorts of restaurants that has great food, excellent service, and plenty of atmosphere. Manny, the proprietor, is a good friend of mine who's struggling to turn his dream of restauranteering into reality. His restauranteering dream doesn't stop with one small, out-of-the-way, off-the-way restaurant with great food, excellent service, and atmosphere. No, Manny is shooting for a nation-wide chain of Manny Mustard's House of Sandwiches. He wants to go from being an overworked, underappreciated member of the third estate to a member of the second estate who overworks and underappreciates others. To help out my good friend Manny, let's take a long, hard look at the differences between small business and the larger, Fortune 500 kind.
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APLS

A scripophilist is one who collects rare stock and bond certificates, usually from extinct companies.
"Habit is a cable; we weave a thread of it each day, and at last we cannot break it. "

-- Horace Mann, educator

DCF
Discounted Cash Flow
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