
A: The common notation for the "intercept" term of an equation specified as Y = a + bX. Mathematically, the aintercept term indicates the value of the Y variable when the value of the X variable is equal to zero. Theoretically, the aintercept is frequently used to indicate exogenous or independent influences on the Y variable, that is, influences that are independent of the X variable. For example, if Y represents consumption and X represents national income, a measures autonomous consumption expenditures.
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MONOPSONY, FACTOR MARKET ANALYSIS: The analysis of a factor market characterized by monopsony indicates that the single buyer maximizes profit by equating marginal revenue product to marginal factor cost. This results in a lower price and smaller quantity than achieved with perfect competition. As such, it does not achieve an efficient allocation of resources. Monopsony is combined with monopoly to form a bilateral monopoly market structure. See also  factor market analysis  perfect competition, factor market analysis  monopoly, factor market analysis  bilateral monopoly, factor market analysis  Recommended Citation:MONOPSONY, FACTOR MARKET ANALYSIS, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 20002018. [Accessed: March 21, 2018]. AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: monopsony, factor market analysis
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AVERAGE FACTOR COST CURVE, MONOPSONY A curve that graphically represents the relation between average factor cost incurred by a firm for employing an input and the quantity of input used. Because average factor cost is essentially the price of the input, the average factor cost curve is also the supply curve for the input. The average factor cost curve for a firm with no market control is horizontal. The average factor cost curve for a firm with market control is positively sloped.
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Today, you are likely to spend a great deal of time at a garage sale wanting to buy either a rechargeable battery for your cell phone or a Tshirt commemorating the 2000 Olympics. Be on the lookout for defective microphones. Your Complete Scope
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During the American Revolution, the price of corn rose 10,000 percent, the price of wheat 14,000 percent, the price of flour 15,000 percent, and the price of beef 33,000 percent.


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