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MARGINAL COST CURVE: A curve that graphically represents the relation between marginal cost incurred by a firm in the short-run product of a good or service and the quantity of output produced. This curve is constructed to capture the relation between marginal cost and the level of output, holding other variables, like technology and resource prices, constant. The marginal cost curve is U-shaped. Marginal cost is relatively high at small quantities of output, then as production increases, declines, reaches a minimum value, then rises. This shape of the marginal cost curve is directly attributable to increasing, then decreasing marginal returns (and the law of diminishing marginal returns).
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LAW OF SUPPLY The direct relationship between supply price and the quantity supplied, assuming ceteris paribus factors are held constant. This economic principle indicates that an increase in the price of a commodity results in an increase in the quantity of the commodity that sellers are willing and able to sell in a given period of time, if other factors are held constant. The law of supply is an important principle in the study of economics.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store hoping to buy either a small palm tree that will fit on your coffee table or several magazines on fashion design. Be on the lookout for vindictive digital clocks with revenge on their minds.
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One of the largest markets for gold in the United States is the manufacturing of class rings.
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"The majority of men meet with failure because of their lack of persistence in creating new plans to take the place of those that fail. " -- Napoleon Hill, author
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FX
Foreign Exchange
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