
FEDERAL RESERVE DISTRICTS: The 12 geographic areas of the United States that form the administrative division of the Federal Reserve System. Each of the 12 Districts is headed by a Federal Reserve District Bank and is generally designated by the Reserve Bank CityBoston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Minneapolis, Kansas City, Dallas, and San Francisco. Federal Reserve Branch Banks are located in 10 of the 12 Districts.
Visit the GLOSS*arama




TOTALMARGINAL RELATION: A mathematical connection between a marginal value and the corresponding total value stating that the marginal IS the slope of the total curve. This mathematical relation between total and marginal surfaces throughout the study of economics, especially utility (total utility and marginal utility), production (total product and marginal product), cost (total cost and marginal cost), and revenue (total revenue and marginal revenue). A related mathematical relation exists between a marginal value and the corresponding average value. The mathematical relation between total and marginal means that the slope of a total curve is the marginal value. If the total curve has a positive slope (that is, is upward sloping), then the marginal is positive. If the total curve has a negative slope (downward sloping), then the 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.To see the connection between a marginal and the slope of a given total, consider this general formula for calculating a marginal from a total: marginal  =  change in total change in quantity 
Now consider the general forum for calculating the slope of a total curve. slope  =  rise run  =  change in total change in quantity 
Is this an illusion, or are these two formulas the same? A quick check with an optometrist and psychiatrist suggests a firm grip on reality. The only possible conclusion is that these two formulas are, in fact, the same. And this means that the slope of a total is, in fact, the corresponding marginal. To put this another way, the term "marginal" is really just another way of saying "slope." The two are really one and the same. The only conceivable difference is that slope is used when an actual graph is under discussion, whereas marginal is used when attention is turned to a mathematical equation. But, the underlying concept is the same, whether it is presented in the form of a graph or a mathematical equationmarginal is slope. This totalmarginal relation surfaces throughout the study of economics. Four of the more important totalmarginal relations encountered are total utility and marginal utility, total product and marginal product, total cost and marginal cost, and total revenue and marginal revenue.
Recommended Citation:TOTALMARGINAL RELATION, AmosWEB Encyclonomic WEB*pedia, http://www.AmosWEB.com, AmosWEB LLC, 20002020. [Accessed: April 2, 2020]. Check Out These Related Terms...          Or For A Little Background...     And For Further Study...             
Search Again?
Back to the WEB*pedia



YELLOW CHIPPEROON [What's This?]
Today, you are likely to spend a great deal of time searching for rummage sales hoping to buy either a key chain with a builtin flashlight and panic button or a green and yellow striped sweater vest. Be on the lookout for cardboard boxes. Your Complete Scope
This isn't me! What am I?


The earliest known use of paper currency was about 1270 in China during the rule of Kubla Khan.


"I have no expectation of making a hit every time I come to bat. What I seek is the highest possible batting average."  President Franklin Delano Roosevelt


AFBD Association of Futures Brokers and Dealers (UK)


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

