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URBAN ECONOMICS: The economic study of cities and urban areas based on the consideration of space, transportation cost, and location in production and consumption decisions. Urban economics studies a wide variety of topics, how and why cities are formed, how land is used within cities, the location of one city relative to another, and the relative size of cities. A closely related area of study that focuses on economic activity in larger regions is termed regional economics.

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CHANGE IN SUPPLY: A shift of the supply curve caused by a change in one of the supply determinants. In essence, a change in supply is caused by any factor affecting supply EXCEPT price. This concept should be contrasted directly with a change in quantity supplied. You should also review the terms change in quantity demanded and change in demand, too. A change in supply is a change in ALL supply price-quantity supplied pairs, meaning that each price is matched up with a different quantity (which is illustrated as a shift of the supply curve). And this change in supply is caused by a change in any of the supply determinants. In contrast, a change in quantity supplied is a change from one price-quantity pair to the another (which is illustrated as a movement along a given supply curve).

     See also | supply | supply curve | supply determinants | price | supply price | quantity supplied | change in quantity supplied | change in quantity demanded | change in demand |


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CHANGE IN SUPPLY, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2022. [Accessed: May 26, 2022].


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AVERAGE PRODUCT AND MARGINAL PRODUCT

A mathematical connection between average product and marginal product stating that the change in the average product depends on a comparison between the average product and marginal product. If marginal product is less than average product, then average product declines. If marginal product is greater than average product, then average product rises. If marginal product is equal to average product, then average product does not change.

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Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors trying to buy either pink cotton balls or a genuine down-filled comforter. Be on the lookout for malfunctioning pocket calculators.
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A communal society, a prime component of Karl Marx's communist philosophy, was advocated by the Greek philosophy Plato.
"Try not to become a man of success, but rather try to become a man of value. "

-- Albert Einstein

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