|
|
UTIL: An hypothetical, as in totally fabricated, unit of measurement for utility that's used by economists to present hypothetical information about utility and consumer demand theory. Economists are fond of making up hypothetical stuff, especially if it drives home an important economic notion. In this case, the term "util" (also frequently used in plural as "utils") is a convenient way to discuss utility and the satisfaction of wants and needs that consumers obtain from consuming or using a good.
Visit the GLOSS*arama
|
|
|
|
|
LONG-RUN MARGINAL COST The change in the long-run total cost of producing a good or service resulting from a change in the quantity of output produced. Like all marginals, long-run marginal cost is an increment of the corresponding total. It is the change in long-run total cost divided by, or resulting from, a change in quantity. Long-run marginal cost is guided by returns to scale rather than marginal returns.
Complete Entry | Visit the WEB*pedia |
|
|
ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time surfing the Internet seeking to buy either a coffee cup commemorating next Thursday or a replacement remote control for your stereo system. Be on the lookout for gnomes hiding in cypress trees.
Your Complete Scope
This isn't me! What am I?
|
|
|
A half gallon milk jug holds about $50 in pennies.
|
|
|
"The truth is not for all men, but only for those who seek it. " -- Ayn Rand, writer
|
|
FRS
Federal Reserve System
|
|
|
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
|
|
