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POLLUTION TYPES: Pollution residuals fall into one of three categories--degradable, nondegradeable, and persistent. Damage done by each type, and thus external cost, typically varies. At one extreme are degradable residuals and at the other are nondegradable. In the middle are persistent residuals.
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Lesson 15: Cost | Unit 4: Long-Run Cost
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Page: 18 of 24
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Topic:
A Choice Of Plants
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- Deciding on the correct factory size.
- We simply need to select the factory size with the lowest average total cost.
- However, which factory size I select depends on the quantity of output I plan to produce.
- The segments of each short-run ATC curve that would be relevant for the alternative production levels is a line that goes by the official name long-run average cost curve (LRAC).
- The long-run average cost curve is the minimum short-run average total cost incurred at a given output quantity in the long run when all inputs are variable.
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INFLATIONARY EXPECTATIONS, AGGREGATE DEMAND DETERMINANT One of several specific aggregate demand determinants assumed constant when the aggregate demand curve is constructed, and that shifts the aggregate demand curve when it changes. An increase in the inflationary expectations causes an increase (rightward shift) of the aggregate curve. A decrease in the inflationary expectations causes a decrease (leftward shift) of the aggregate curve. Other notable aggregate demand determinants include interest rates, federal deficit, and the money supply.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius hoping to buy either a brown leather attache case or car battery jumper cables. Be on the lookout for strangers with large satchels of used undergarments.
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This isn't me! What am I?
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The 1909 Lincoln penny was the first U.S. coin with the likeness of a U.S. President.
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"The best way to cheer yourself up is to try to cheer somebody else up." -- Mark Twain
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BA
Bank Acceptance
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