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March 31, 2023 

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TOTAL FACTOR COST CURVE, MONOPSONY: A curve that graphically represents the relation between total factor cost incurred by a monopsony when using a given factor of production to produce a good or service. The total factor cost curve is most important in factor market analysis for the derivation of the marginal factor cost curve.

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DISPERSIVE FORCE: A force that causes activities to locate farther apart. The primary dispersive forces are due to competition for local inputs or outputs, especially if this competition increases the prices of the inputs or limits the available demand for the outputs. Dispersive forces are countered by attractive forces, which act to bring activities closer together.

     See also | competition | local input | local output | market area | attractive force | competition along a line | location theory |


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DISPERSIVE FORCE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2023. [Accessed: March 31, 2023].


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PERFECT COMPETITION, MARGINAL ANALYSIS

A perfectly competitive firm produces the profit-maximizing quantity of output that equates marginal revenue and marginal cost. This marginal approach is one of three methods that used to determine the profit-maximizing quantity of output. The other two methods involve the direct analysis of economic profit or a comparison of total revenue and total cost.

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Today, you are likely to spend a great deal of time lost in your local discount super center trying to buy either decorative picture frames or storage boxes for your income tax returns. Be on the lookout for vindictive digital clocks with revenge on their minds.
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In the late 1800s and early 1900s, almost 2 million children were employed as factory workers.
"A leader, once convinced that a particular course of action is the right one, must . . . be undaunted when the going gets tough."

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Quasi-Likelihood Ratio
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