Google
Sunday 
July 13, 2025 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
ASIAN DEVELOPMENT BANK: A multilateral development finance institution dedicated to reducing poverty in Asia and the Pacific that engages in mostly public sector lending for development purposes in its developing member countries. They pursue this goal by helping to improve the quality of people's lives providing loans and technical assistance for a broad range of development activities. ADB raises fund through bond issues on the world's capital markets but they also rely on members' contributions. The ADB was established in 1966 and has its headquarters in Manila, Philippines. As of September of 2003, the ADB had 58 member countries.

Visit the GLOSS*arama

Most Viewed (Number) Visit the WEB*pedia

Lesson 22: Factor Supply | Unit 2: Resources Page: 8 of 25

Topic: Labor: Satisfaction And Leisure <=PAGE BACK | PAGE NEXT=>

  • The perpetual trade-off faced by the providers of labor services -- work versus leisure -- results because the person can not be separated from the productive resource.

  • A couple of important implications for the factor supply of labor.

    • Compensating Wages: First, wages tend to be higher or lower depending on the amount of satisfaction associated with the job.

    • Backward-Bending Supply: Second, satisfaction is affected by both working and not working (that is, leisure).


Course Home | Lesson Menu | Page Back | Page Next

AVERAGE TOTAL COST

Total cost per unit of output, found by dividing total cost by the quantity of output. When compared with price (per unit revenue), average total cost (ATC) indicates the per unit profitability of a profit-maximizing firm. Average total cost is one of three average cost concepts important to short-run production analysis. The other two are average fixed cost and average variable cost. A related concept is marginal cost.

Complete Entry | Visit the WEB*pedia


APLS

BLUE PLACIDOLA
[What's This?]

Today, you are likely to spend a great deal of time searching for a specialty store hoping to buy either an AC adapter for your CD player or storage boxes for your family photos. Be on the lookout for letters from the Internal Revenue Service.
Your Complete Scope

This isn't me! What am I?

Cyrus McCormick not only invented the reaper for harvesting grain, he also invented the installment payment for selling his reaper.
"To sit back and let fate play its hand out, and never influence it, is not the way man was meant to operate."

-- John Glenn, astronaut, U.S. senator

DOT
Department of the Treasury
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



| AmosWEB | WEB*pedia | GLOSS*arama | ECON*world | CLASS*portal | QUIZ*tastic | PED Guide | Xtra Credit | eTutor | A*PLS |
| About Us | Terms of Use | Privacy Statement |

Thanks for visiting AmosWEB
Copyright ©2000-2025 AmosWEB*LLC
Send comments or questions to: WebMaster