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BOND RATING: A measure of the ability of a firm to meet its debt obligations or credit worthiness. Basically, a bond rating summarizes the assessment of a firm's net worth, cash flow and viability of projects so that investors can assign the size of the default-risk premium to the bond. These measurements are so important that investors frequently pay professional analysts to collect, monitor and process information about firms. Standard and Poor's Corporation and Moody's Investors Service are two of the most respected bond rating agencies.
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Lesson Contents
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Unit 1: Short-Run Production |
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Unit 2: Production Measures |
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Unit 3: Product Curves |
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Unit 4: Long-Run Production |
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Unit 5: Supply | |
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Production
- The first unit of this lesson, Short-Run Production, begins our study by introducing a few basic concepts underlying production, especially short run, long run, fixed input, and variable input.
- In the second unit, Production Measures, we take a look the three standard measures of production -- total product, average product, and marginal product.
- The third unit, Product Curves, then presents graphical relations for these three measures -- total product curve, average product curve, and marginal product curve.
- In the fourth unit, Long-Run Production, we examine the role returns to scale play in long-run production.
- The fifth and final unit, Supply, then closes this lesson by previewing the importance of production to the supply decisions by firms.s
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MARGINAL REVENUE, MONOPOLY The change in total revenue resulting from a change in the quantity of output sold. Marginal revenue indicates how much extra revenue a monopoly receives for selling an extra unit of output. It is found by dividing the change in total revenue by the change in the quantity of output. Marginal revenue is the slope of the total revenue curve and is one of two revenue concepts derived from total revenue. The other is average revenue. To maximize profit, a monopoly equates marginal revenue and marginal cost.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time wandering around the shopping mall hoping to buy either a coffee cup commemorating the 1960 Presidential election or a how-to book on fixing your computer, with illustrations. Be on the lookout for the last item on a shelf.
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This isn't me! What am I?
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A half gallon milk jug holds about $50 in pennies.
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"Always dream and shoot higher than you know how to. Don't bother just to be better than your contemporaries or predecessors. Try to be better than yourself." -- William Faulkner, writer
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Autoregressive Conditional Heteroskedasticity
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