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LOCKOUT: A plant or factory that is closed temporarily, because it's owners are trying to gain a negotiating advantage over the employees' union. A lockout is commonly used by a company's management if they suspect the union is planning to strike. A lockout by management before the union strikes is much like a pre-emptive military attach that tries to hit the enemy hard, fast, and first.
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Lesson 15: Cost | Unit 4: Long-Run Cost
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Page: 19 of 24
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By adding more factory sizes, two things happen:- The range of production in which a given factory has the lowest short-run average total cost declines.
- The long-run average cost curve becomes smoother and less jagged.
- Our suppositions are correct.
- 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. It is the envelope of short-run average total cost curves.
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AGGREGATE DEMAND DECREASE, SHORT-RUN AGGREGATE MARKET A shock to the short-run aggregate market caused by a decrease in aggregate demand, resulting in and illustrated by a leftward shift of the aggregate demand curve. A decrease in aggregate demand in the short-run aggregate market results in a decrease in the price level and a decrease in real production. The level of real production resulting from the shock can be greater or less than full-employment real production.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time searching for a specialty store wanting to buy either a birthday gift for your grandfather or a pleather CD case. Be on the lookout for fairy dust that tastes like salt.
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The first U.S. fire insurance company was established by Benjamin Franklin in 1752 in Philadelphia.
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"You have to find something that you love enough to be able to take risks, jump over the hurdles and break through the brick walls that are always going to be placed in front of you. If you don't have that kind of feeling for what it is you're doing, you'll stop at the first giant hurdle. " -- George Lucas
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PSBR
Public Sector Borrowing Requirement
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