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VON THUNEN MODEL: A model of land use develop by Johann von Thunen that illustrates the trade off between land values and the distance from a central point of attraction. While originally applied to agricultural land use, the von Thunen model is commonly used to explain urban land use patterns. Two primary conclusions from the model are (1) that land values decrease as distance from the central point of attraction increases and (2) that different land use activities are contained in concentric rings equal distance from the central point of attraction based on the weight (or transportation cost) of the activity.
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Lesson 14: Production | Unit 3: Product Curves
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Page: 13 of 25
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Topic:
Marginal Product Curve
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- The marginal product curve:
- The marginal product curve graphically illustrates the relation between marginal product and the quantity of the variable input, holding all other inputs fixed.
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SUPPLY SPACE The area on or above a supply curve that indicates all possible price-quantity combinations acceptable to sellers. Buyers are willing and able to purchase any price-quantity combination that places them on or above the supply curve, but not above.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time flipping through the yellow pages seeking to buy either car battery jumper cables or a dozen high trajectory optic orange golf balls. Be on the lookout for broken fingernail clippers.
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This isn't me! What am I?
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Three-forths of the gold mined each year is used to manufacture jewelry.
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"You miss 100% of the shots you never take. " -- Wayne Gretzky, hockey player
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NASDAQ
National Assocation of Securities Dealers Automated Quote System
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