|
|
EQUILIBRIUM: The state that exists when opposing forces exactly offset each other and there is no inherent tendency for change. Once achieved, an equilibrium persists unless or until it is disrupted by an outside force.
Visit the GLOSS*arama
|
|
|
|
|
Lesson 23: Factor Market Equilibrium | Unit 4: Monopsony
|
Page: 16 of 24
|
- A definition of monopsony:
- Monopsony is a market structure characterized by a single buyer.
- The key characteristics of monopsony are:
- Only Buyer
- Entry Barriers
- Limited Substitutes
- These characteristics of monopsony lead to two important features:
- Supply Curve
- Marginal Factor Cost
- The positively-sloped factor supply curve facing the firm and the corresponding marginal factor cost curve are illustrated in this diagram.
|
|
|
|
|
|
|
PHYSICAL SCIENCE The scientific study of the physical world, especially nonhuman, nonsociety phenomena, such as atoms, planets, wildlife, and continental drift. Common disciplines that study these physical phenomena are physics, chemistry, biology, geology, and astronomy. Physical science is one of two broad scientific classifications. The other is social science, which is the study human behavior and society.
Complete Entry | Visit the WEB*pedia |
|
|
PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time at a dollar discount store hoping to buy either a how-to book on fine dining or a coffee cup commemorating the first day of winter. Be on the lookout for letters from the Internal Revenue Service.
Your Complete Scope
This isn't me! What am I?
|
|
|
Francis Bacon (1561-1626), a champion of the scientific method, died when he caught a severe cold while attempting to preserve a chicken by filling it with snow.
|
|
|
"Old age isn't so bad when you consider the alternative. " -- Cato, Roman orator
|
|
ARCH
Autoregressive Conditional Heteroskedasticity
|
|
|
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
|
|
