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LEVERAGED BUYOUT: A method of corporate takeover or merger popularized in the 1980s in which the controlling interest in a company's corporate stock was purchased using a substantial fraction of borrowed funds. These takeovers were, as the financial-types say, heavily leveraged. The person or company doing the "taking over" used very little of their own money and borrowed the rest, often by issuing extremely risky, but high interest, "junk" bonds. These bonds were high-risk, and thus paid a high interest rate, because little or nothing backed them up.
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Lesson 14: Production | Unit 1: Short-Run Production
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Page: 2 of 25
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Topic:
Two Inputs: Fixed And Variable
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- Two different types of inputs -- fixed and variable.
- A fixed input is an input used in the production of goods and services that does not change in the time period of the analysis.
- A variable input is an input used in the production of goods and services that does change in the time period of the analysis.
- For short-run production, the quantity of variable inputs used in production can be changed, but the quantity of fixed inputs can not.
- Fixed and variable inputs are closely connected to the time period of analysis.
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PERFECT COMPETITION, PROFIT MAXIMIZATION A perfectly competitive firm is presumed to produce the quantity of output that maximizes economic profit--the difference between total revenue and total cost. This production decision can be analyzed directly with economic profit, by identifying the greatest difference between total revenue and total cost, or by the equality between marginal revenue and marginal cost.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time going from convenience store to convenience store hoping to buy either a black duffle bag with velcro closures or any book written by Isaac Asimov. Be on the lookout for jovial bank tellers.
Your Complete Scope
This isn't me! What am I?
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There were no banks in colonial America before the U.S. Revolutionary War. Anyone seeking a loan did so from another individual.
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"He, who every morning plans the transactions of the day, and follows that plan, carries a thread that will guide him through a labyrinth of the most busy life." -- Victor Hugo, Writer
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PPF
Production Possibilities Frontier
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