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WEIGHT GAINING: An activity in which the transportation cost of the output is greater than the transportation cost of the inputs. Using the term weight to mean transportation cost, an activity is said to gain weight if the cost of moving the output to the market is greater than the cost of getting the inputs to the factory. A weight-gaining activity has a greater attraction to, and tends to locate near, the market for the output.
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Lesson 20: Oligopoly | Unit 1: Intro
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Page: 3 of 24
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Topic:
Real World Oligopoly
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- Real world markets are heavily populated by oligopoly.
- A few of the more important oligopoly markets are:
- Automobiles
- Computers
- Petroleum
- Tires
- Banking
- Long Distance
- Television
- Airlines
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AVERAGE COST The opportunity cost incurred per unit of good produced. This is calculated by dividing the cost of production by the quantity of output produced. While average cost is a general term relating cost and the quantity of output, three specific average cost terms are average total cost, average variable cost, and average fixed cost. A related cost term is marginal cost.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors trying to buy either a pair of leather sandals that won't cause blisters or clothing for your kitty cats. Be on the lookout for attractive cable television service repair people.
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This isn't me! What am I?
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Lombard Street is London's equivalent of New York's Wall Street.
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"Inside the ring or out, ain't nothing wrong with going down. It's staying down that's wrong. " -- Muhammad Ali
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SIPP
Survey of Income and Program Participation
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