AmosWEB is Economics: CLASS*portal

Saturday
November 8, 2025

AmosWEB means Economics with a Touch of Whimsy!

HISTORICAL COST: An accounting principle stating that expenses are recorded in terms of original or acquisition cost. Such a practice does not necessarily indicate the opportunity cost or current market value.

Visit the GLOSS*arama

Most Viewed (Number)

production stages (756)
marginal product curve (353)
marginal cost and marginal product (332)
total product curve (286)
increasing-cost industry (263)

Visit the WEB*pedia

Lesson 20: Oligopoly | Unit 5: Evaluation

Page: 22 of 24

Topic: The Good

The two most noted goods from oligopoly are:

Innovations:

Of the four market structures, oligopoly is the one most prone toward innovation.

And innovations are what advance the level of technology, expands production capabilities, promotes economic growth, and leads to higher living standards.

Scale Economies: Oligopoly firms are also able to take advantage of scale economies that reduce production costs and prices.

As large firms, they can "mass produce" at low average cost.

| | |

MARGINAL FACTOR COST, PERFECT COMPETITION

The change in total factor cost resulting from a change in the quantity of factor input employed by a perfectly competitive firm. Marginal factor cost, abbreviated MFC, indicates how total factor cost changes with the employment of one more input. It is found by dividing the change in total factor cost by the change in the quantity of input used. Marginal factor cost is compared with marginal revenue product to identify the profit-maximizing quantity of input to hire.

Complete Entry | Visit the WEB*pedia

BLACK DISMALAPOD
[What's This?]

Today, you are likely to spend a great deal of time searching for rummage sales looking to buy either a pleather CD case or a how-to book on fine dining. Be on the lookout for deranged pelicans.
Your Complete Scope

This isn't me! What am I?

Al Capone's business card said he was a used furniture dealer.

"If you worried about falling off the bike, you'd never get on. "

-- Lance Armstrong, bicycle racer

TSE
Toronto Stock Exchange

A PEDestrian's Guide
Xtra Credit

Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.

User Feedback

| | | | | | | | | | |
| | | |