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 AD CURVE: The aggregate demand curve, which is a graphical representation of the relation between aggregate expenditures on real production and the price level, holding all ceteris paribus aggregate demand determinants constant. The aggregate demand, or AD, curve is one side of the graphical presentation of the aggregate market. The other side is occupied by the aggregate supply curve (which is actually two curves, the long-run aggregate supply curve and the short-run aggregate supply curve). The negative slope of the aggregate demand curve captures the inverse relation between aggregate expenditures on real production and the price level. This negative slope is attributable to the interest-rate effect, real-balance effect, and net-export effect.
 Most Viewed (Number) production stages (106)limited resources (46)foreign sector (39)total variable cost curve (36)45-degree line (33) Visit the WEB*pedia

 Lesson Contents Unit 1: The Basics Opportunity Cost Cost Times Two Profit Times Three Unit 1 Summary Unit 2: Three Totals Fixed And Variable A Table Of Totals Total Curves TP And TVC Unit 2 Summary Unit 3: Four More Measures Three Averages A Table Of Averages Average Curves One Marginal A Marginal Table The Marginal Curve Unit 3 Summary Unit 4: Long-Run Cost Doing The Long Run A Choice Of Plants Planning Curve Scale Economies Unit 4 Summary Unit 5: Previewing Supply Production Stages Marginal Cost Unit 5 Summary Course Home
Cost

• The first unit of this lesson, The Basics, begins this our study with a review of the opportunity cost notion and how it relates to business activity.
• In the second unit, Three Totals, we take a look at the three total cost measures, including total cost, total variable cost, and total fixed cost.
• The third unit, Four More Measures, then presents four additional cost measures -- average total cost, average variable cost, average fixed cost, and marginal cost.
• In the fourth unit, Long-Run Cost, we examine how scale economies and diseconomies affect cost in the long run.
• The fifth and final unit, Previewing Supply, then closes this lesson by previewing the importance of cost, especially marginal cost, to the supply decision by a firm.

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A support committee of the Federal Reserve System that provides advice and input the Federal Reserve Board of Governors. The Federal Advisory Council (FAC) is comprised of 12 members, one from each of the 12 Federal Reserve Districts. The council members, typically commercial bank presidents from the 12 districts, are appointed by their Federal Reserve District Banks. The FAC is one of three Federal Reserve Board advisory committees. The other two Consumer Advisory Council and Thrift Institutions Advisory Council.

 BLUE PLACIDOLA[What's This?] Today, you are likely to spend a great deal of time flipping through the yellow pages hoping to buy either a remote controlled sports car with an air spoiler or semi-gloss photo paper that works with your neighbor's printer. Be on the lookout for bottles of barbeque sauce that act TOO innocent.Your Complete Scope
 The 22.6% decline in stock prices on October 19, 1987 was larger than the infamous 12.8% decline on October 29, 1929.
 "My future starts when I wake up every morning . . . Every day I find something creative to do with my life. "-- Miles Davis, musician
 AVCAverage Variable Cost
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