Wednesday  October 4, 2023
 AmosWEB means Economics with a Touch of Whimsy!
 RISK NEUTRAL: A person who values a certain income the same as an equal amount of income that involves risk or uncertainty. Let's say that you're given two options--(A) a guaranteed \$1,000 or (b) a 50-50 chance of getting either \$500 or \$1,500. If you don't really care which option you chose, because both options have the same "expected" values, then you're risk neutral.
 Most Viewed (Number) production stages (174)market structures (92)limited resources (92)marginal physical product (90)monopoly (82) Visit the WEB*pedia

NOBEL PRIZE IN ECONOMIC SCIENCES: An award given annually since 1969 to an economist or scholar in recognition of a major contribution to the study of economics. It was established by the Bank of Sweden and is annually awarded by the Royal Swedish Academy of Sciences in Stockholm. The official name of the award is The Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel. It is the only Nobel Prize awarded for a social science. The first Nobel Prize in Economic Sciences was awarded in 1969 to Ragnar Frisch and Jan Tinbergen.

Recommended Citation:

NOBEL PRIZE IN ECONOMIC SCIENCES, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2023. [Accessed: October 4, 2023].

AmosWEB Encyclonomic WEB*pedia:

Additional information on this term can be found at:

WEB*pedia: Nobel Prize in Economic Sciences

Search Again?

TOTAL VARIABLE COST AND TOTAL PRODUCT

Because variable cost is largely associated with the cost of employing at least one variable input in the short run, the total variable cost curve can be derived from the total product curve. This admittedly simplistic connection between total product and total variable cost is designed to illustrate the fundamental role that the law of diminishing marginal returns plays in the slope and shape of the total variable cost curve. Because he slope of the total variable cost curve, which is also the slope of the total cost curve, is marginal cost, this analysis also indicates how the law of diminishing marginal returns relates to marginal cost.

 BROWN PRAGMATOX[What's This?] Today, you are likely to spend a great deal of time wandering around the downtown area hoping to buy either a video camera with stop action features or one of those memory foam pillows. Be on the lookout for rusty deck screws.Your Complete Scope
 The Dow Jones family of stock market price indexes began with a simple average of 11 stock prices in 1884.
 "Those who are blessed with the most talent don't necessarily outperform everyone else. It's the people with follow-through who excel. "-- Mary Kay Ash, May Kay Cosmetics founder
 OTCOver the Counter
 Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.

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

Thanks for visiting AmosWEB