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LONG-RUN PRODUCTION: An analysis of the production decision made by a firm in the long run. The central feature of this long-run analysis is returns to scale, which results in the long run even though all inputs are variable. Returns to scale are reflected in the long-run average cost curve as either economies to scale or diseconomies to scale.
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SUPPLY DETERMINANTS Five ceteris paribus factors that affect supply, but which are assumed constant when a supply curve is constructed. They are resource prices, production technology, other prices, sellers' expectations, and number of sellers. Changes in the supply determinants cause shifts of the supply curve and disruptions of the market.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time searching for rummage sales looking to buy either a bottle of blackcherry flavored spring water or a travel case for you toothbrush. Be on the lookout for vindictive digital clocks with revenge on their minds.
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This isn't me! What am I?
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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.
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"There is no point at which you can say, „Well, I'm successful now. I might as well take a nap.¾" -- Carrie Fisher, actress, writer
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HSI
Hang Seng Index (Hong Kong)
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