Google
Wednesday 
July 17, 2019 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
OCCUPATIONAL SAFETY AND HEALTH ADMINISTRATION: An agency of the U. S. Department of Labor, established in 1970, that's charged with regulating workplace safety and job-related worker health. It has the authority to imposed health and safety rules and, much to the displeasure of businesses, inspect workplaces to ensure that the rules are followed. Some (second estate) critics argue of their rules are unneeded, overzealous, and counter-productive. Other (third estate) critics say that their rules are neither stringent enough nor adequately enforced.

Visit the GLOSS*arama

Most Viewed (Number) Visit the WEB*pedia

PERFECT COMPETITION, SHUTDOWN: A perfectly competitive firm is presumed to shutdown production and produce no output in the short run, if price is less than average variable cost. This is one of three short-run production alternatives facing a firm. The other two are profit maximization (if price exceeds average total cost) and loss minimization (if price is greater than average variable cost but less than average total cost).

     See also | perfect competition, profit maximization | perfect competition, loss minimization | perfect competition, short-run supply curve | short-run production alternatives | breakeven output |


Recommended Citation:

PERFECT COMPETITION, SHUTDOWN, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2019. [Accessed: July 17, 2019].


AmosWEB Encyclonomic WEB*pedia:

Additional information on this term can be found at:

WEB*pedia: perfect competition, shutdown

Search Again?

Back to the GLOSS*arama

EMPIRICAL

Based on or relating to the collection or analysis of real world data. The term empirical is commonly used as a modifier to provide contrast with theoretical. Whereas theoretical refers to abstract representations, empirical indicates actual real world observations.

Complete Entry | Visit the WEB*pedia


APLS

PINK FADFLY
[What's This?]

Today, you are likely to spend a great deal of time searching for rummage sales wanting to buy either a toaster oven that has convection cooking or a birthday gift for your mother. Be on the lookout for infected paper cuts.
Your Complete Scope

This isn't me! What am I?

The wealthy industrialist, Andrew Carnegie, was once removed from a London tram because he lacked the money needed for the fare.
"God grants victory to perseverance. "

-- Simon Bolivar, South American liberator

QML
Quasi-Maximum Likelihood
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 ©2000-2019 AmosWEB*LLC
Send comments or questions to: WebMaster