
POINT ELASTICITY: The relatively responsiveness of a change in one variable (call it B) to an infinitesimally small change in another variable (call it A). The notion of point elasticity typically comes into play when discussing the elasticity at a specific point on a curve.< P>Point elasticity can be calculated in a number of different ways. Sophisticated economists, using sophisticated mathematical techniques (better known as calculus) can calculate point elasticity by taking derivatives of equations. Derivatives is fancy calculus talk for infinitesimally small changes.
Visit the GLOSS*arama




TOTALMARGINAL RULE: A mathematical connection between a marginal value is the slope of a curve of the corresponding total value stating that the marginal IS the slope of the total curve. If the total curve has a positive slope (that is, is upward sloping), then marginal is positive. If the total product has a negative slope (downward sloping), then marginal is negative. If the total curve has a zero slope (horizontal), then marginal is zero. Moreover, if the total curve has an increasing slope (becoming steeper), then the marginal is rising. If the total curve has a decreasing slope (becoming flatter), then the marginal is falling. See also  slope  total product  total cost  total variable cost  marginal product  marginal cost  averagemarginal rule  Recommended Citation:TOTALMARGINAL RULE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 20002023. [Accessed: October 4, 2023].
Search Again?
Back to the GLOSS*arama


ALTERNATIVE UNEMPLOYMENT RATES The official unemployment rate estimated and reported monthly by the Bureau of Labor Statistics (BLS) using data from Current Population Survey is one of six alternative measures of unemployment tracked and reported by the BLS, officially labeled sequentially U1 through U6. The "official" unemployment rate is U3. The other five measures seek to document different ways in which labor can be under utilized, including unemployment duration, job losers, discouraged workers, marginal workers, and parttime workers.
Complete Entry  Visit the WEB*pedia 


YELLOW CHIPPEROON [What's This?]
Today, you are likely to spend a great deal of time searching the newspaper want ads trying to buy either a rechargeable battery for your cell phone or a Tshirt commemorating the 2000 Olympics. Be on the lookout for doortodoor salesmen. Your Complete Scope
This isn't me! What am I?


Potato chips were invented in 1853 by a irritated chef repeatedly seeking to appease the hard to please Cornelius Vanderbilt who demanded french fried potatoes that were thinner and crisper than normal.


"Those who are blessed with the most talent don't necessarily outperform everyone else. It's the people with followthrough who excel. "  Mary Kay Ash, May Kay Cosmetics founder


ECU European Currency Unit


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

