October 27, 2016 

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SHUTDOWN RULE: A rule stating that firm minimizes economic loss by producing no output in the short run if price is less than average variable cost. In the short run, a firm incurs total fixed cost whether or not it produces any output. As such, if the market price is falls below average total cost, it must decide if the economic loss from producing the quantity of output that equates marginal revenue and marginal cost is more or less than the economic loss incurred with shutting down production in the short run (which is equal to total fixed cost).

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An assortment of ceteris paribus factors other than the price level that affect aggregate demand, but which are assumed constant when the aggregate demand curve is constructed. Changes in any of the aggregate demand determinants cause the aggregate demand curve to shift. The specific ceteris paribus factors are commonly grouped by the four, broad expenditure categories--consumption expenditures, investment expenditures, government purchases, and net exports.

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State of the ECONOMY

Producer Price Index Final Demand
November 2015
Up 0.3% from Oct. 2015 Soure:

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[What's This?]

Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club trying to buy either a genuine down-filled pillow or one of those "hang in there" kitty cat posters. Be on the lookout for neighborhood pets, especially belligerent parrots.
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On a typical day, the United States Mint produces over $1 million worth of dimes.
"The ideals that have lighted my way, and time after time have given me new courage to face life cheerfully, have been kindness, beauty and truth. "

-- Albert Einstein, physicist

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