Google
Saturday 
April 21, 2018 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
RAW MATERIALS: The stuff used in the production of tangible products that become the tangible products. Raw materials, also shorted to just materials, are part of the land category of scarce resources. Space is also part of the land resource category. Another term that works as a synonym for materials is natural resources. Perhaps it's obvious that without materials, there would be no tangible products.

Visit the GLOSS*arama

Most Viewed (Number) Visit the WEB*pedia

LONG-RUN AVERAGE COST: The per unit cost of producing a good or service in the long run when all inputs are variable. In other words, long-run total cost divided by the quantity of output produced. Long-run average cost is based on economies of scale (or increasing returns to scale) and diseconomies of scale (or decreasing returns to scale).

     See also | average cost | average total cost | variable input | fixed input | long run | quantity | economies of scale | increasing returns to scale | diseconomies of scale | decreasing returns to scale | minimum efficient scale |


Recommended Citation:

LONG-RUN AVERAGE COST, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2018. [Accessed: April 21, 2018].


AmosWEB Encyclonomic WEB*pedia:

Additional information on this term can be found at:

WEB*pedia: long-run average cost

Search Again?

Back to the GLOSS*arama

RATIONAL ABSTENTION

The decision NOT to do something (such as vote in an election) because the cost of taking the action is more than the expected benefit. The rational decision to refrain from an endeavor is a straightforward application of utility maximization and along with the related notion of rational ignorance, is a source of voter apathy and government inefficiency.

Complete Entry | Visit the WEB*pedia


APLS

BROWN PRAGMATOX
[What's This?]

Today, you are likely to spend a great deal of time calling an endless list of 800 numbers seeking to buy either one of those "hang in there" kitty cat posters or a velvet painting of Elvis Presley. Be on the lookout for fairy dust that tastes like salt.
Your Complete Scope

This isn't me! What am I?

The 1909 Lincoln penny was the first U.S. coin with the likeness of a U.S. President.
"Inside the ring or out, ain't nothing wrong with going down. It's staying down that's wrong. "

-- Muhammad Ali

BIS
Bank for International Settlements
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