Google
Tuesday 
July 17, 2018 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
VARIABLE COST: In general, cost that changes with changes in the quantity of output produced. More specifically, variable cost is combined with the adjectives "total" and "average" to indicate the overall level of variable cost or the per unit variable cost. Variable cost depends on the amount of produced. If there is no production, then there is no variable cost.

Visit the GLOSS*arama

Most Viewed (Number) Visit the WEB*pedia

Lesson 2: Economic Science | Unit 1: The Method Page: 3 of 20

Topic: A Process <=PAGE BACK | PAGE NEXT=>

The scientific method follows a process to systematically examine and explain our world.

The process:

  • First, generally accepted principles form a theory.
  • Second, the theory inspires hypotheses.
  • Third, hypotheses are tested with real world data.
  • Fourth, if supported, the hypotheses become principles.
  • Fifth, new principles are added to the theory.
  • Last, new, the improved theory inspires more hypotheses.

Course Home | Lesson Menu | Page Back | Page Next

AVERAGE REVENUE CURVE

A curve that graphically represents the relation between average revenue received by a firm for selling its output and the quantity of output sold. Because average revenue is essentially the price of a good, the average revenue curve is also the demand curve for a firm's output. The average revenue curve for a firm with no market control is horizontal. The average revenue curve for a firm with market control is negatively sloped.

Complete Entry | Visit the WEB*pedia


APLS

PURPLE SMARPHIN
[What's This?]

Today, you are likely to spend a great deal of time browsing through a long list of dot com websites hoping to buy either a coffee cup commemorating the 2000 Olympics or a birthday gift for your grandmother. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
Your Complete Scope

This isn't me! What am I?

Three-forths of the gold mined each year is used to manufacture jewelry.
"God grants victory to perseverance. "

-- Simon Bolivar, South American liberator

MP
Marginal Product
A PEDestrian's Guide
Xtra Credit
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.

User Feedback



| AmosWEB | WEB*pedia | GLOSS*arama | ECON*world | CLASS*portal | QUIZ*tastic | PED Guide | Xtra Credit | eTutor | A*PLS |
| About Us | Terms of Use | Privacy Statement |

Thanks for visiting AmosWEB
Copyright ©2000-2018 AmosWEB*LLC
Send comments or questions to: WebMaster