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REGULATORY POLICY: Government policy based on government's ability to pass laws and enact regulations.
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MARGINAL COST AND LAW OF DIMINISHING MARGINAL RETURNS Decreasing then increasing marginal cost, reflected by a U-shaped marginal cost curve, is the result of increasing then decreasing marginal returns. In particular the decreasing marginal returns is caused by the law of diminishing marginal returns. As such, the law of diminishing marginal returns affects not only the short-run production of a firm but also the cost of short-run production. This translates into a positively-sloped supply curve for profit-maximizing competitive firms.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time watching the shopping channel trying to buy either rechargeable batteries or a rechargeable battery for your computer. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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This isn't me! What am I?
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The portrait on the quarter is a more accurate likeness of George Washington than that on the dollar bill.
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"Well done is better than well said. " -- Benjamin Franklin, statesman, inventor
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CPI-W
Consumer Price Index-Urban Wage Earners and Clerical Workers
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