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TOTAL VARIABLE COST AND MARGINAL COST: A mathematical connection between marginal cost and total variable cost stating that marginal cost IS the slope of the total variable cost curve. This relation between total variable cost and marginal cost is also seen with total cost. The slope of the total cost curve is marginal cost, as well. The relation between total variable cost and marginal cost is but another in the long line of applications of the total-marginal relation.
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BROWN PRAGMATOX
Your compete MICRO*scope for today
You are the type of person who is down-to-earth and pragmatic, practical and sensible, and even a bit folksy. Family and friends look to you as a pillar of strength, and rightly so. Today, you are likely to spend a great deal of time surfing the Internet looking to buy either a 50-foot blue garden hose or a turbo-powered vacuum cleaner. Be on the lookout for neighborhood pets, especially belligerent parrots. You should consider shopping at stores or businesses beginning with the letter P, but do not buy any products with a serial number or product code containing the number 271023. Your preferred shopping venue is thrift stores. Your special symbol is the comma (,).
Is this You?
As a Brown Pragmatox, you are down-to-earth and practical. You are hard working and industrious. You are frugal to the point that you might even refrain from making a purchase that you really, really need. Doing so often causes problems down the road. You definitely go with function over form and substance over style.
This isn't me! What am I?
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VALUE IN USE The satisfaction of wants and needs provided by the direct consumption of goods and services. Acquiring value from the use of goods and services is really the ultimate goal of economic activity. It is the final step in the production, allocation, and consumption activities that are undertaken to address the fundamental problem of scarcity. Value in use should be contrasted with the similar phrase, value in exchange.
Complete Entry | Visit the WEB*pedia |
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A Brief Introduction To Get You StartedThrough undaunted determination, sheer luck, or a missed turnpike exit, you have happened upon A Pedestrian's Guide to the Economy. You'll find hours of reading pleasure contained within this site, with more entertainment value per calorie than most office memos. A Pedestrian's Guide to the Economy, however, is more than a recreational web site. As a handy reference source, it provides answers to many of the most asked, a few of the least asked, and some of the never asked questions about the economy.
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Lombard Street is London's equivalent of New York's Wall Street.
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"Opportunities are usually disguised as hard work, so most people don't recognize them." -- Ann Landers, columnist
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AAO
Authorized Acquisition Objective
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