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HORIZONTAL MERGER: The consolidation under a single ownership of two separately-owned businesses in the same industry. An example of a horizontal merger would be two soft drink companies merging to form a single firm. A horizontal merger should be contrasted with vertical merger--two firms in different stages of the production of one good, such that the output of one business is the input of the other; and conglomerate merger--two firms in totally, completely separate industries.
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Lesson 21: Factor Demand | Unit 2: Derived Demand
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Page: 10 of 24
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Topic:
Three (Or Four) Marginals
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- A review:
- Marginal product is the change in the quantity of output produced resulting from a change in the quantity of the factor input used.
- Marginal product measures the physical productivity of a given unit of input.
- Marginal revenue is the change in the total revenue resulting from a change in the quantity of the output produced.
- The combination of marginal (physical) product and marginal revenue leads to the fourth marginal concept:
- Marginal revenue product is the change in the revenue received by a firm resulting from a change in the quantity of the factor input used.
- Marginal revenue product indicates the value of the output produced by an input.
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SLOPE, CONSUMPTION LINE The positive slope of the consumption line is also termed the marginal propensity to consume (MPC). This slope is greater than zero but less than one, reflecting induced consumption and the Keynesian psychological law of consumer behavior that consumption increases by less than the increase in income. The slope of the consumption line provides the foundation for the slope of the aggregate expenditures line and thus also affects the magnitude of the multiplier process.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time at a crowded estate auction looking to buy either a T-shirt commemorating last Friday (you know why) or a rotisserie oven that can also toast bread. Be on the lookout for vindictive digital clocks with revenge on their minds.
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This isn't me! What am I?
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On a typical day, the United States Mint produces over $1 million worth of dimes.
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"Our goals can only be reached through a vehicle of a plan, in which we must fervently believe, and upon which we must vigorously act. There is no other route to success. " -- Pablo Picasso, artist
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PIT
Personal Income Tax
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