|
DISECONOMIES OF SCALE: Increasing long-run average cost that occurs as a firm increases all inputs and expands its scale of production. This is graphically illustrated by a positively-sloped long-run average cost curve and typically occurs for relatively large levels of production. Diseconomies of scale overwhelm by economies of scale for relatively large production levels. Together, economies of scale and diseconomies of scale cause the long-run average cost curve to be U-shaped.
Visit the GLOSS*arama
|
|
|
|
FOURTH ESTATE: The journalist, reporters, and other media representatives who keep a watchful eye on the evil-doings of the first and second estates and hopefully provide valuable information to the consumers, workers, and taxpayers of the third estate. However, in that news and journalism has become, along with other businesses, a mega-gadzillion dollar industry, many fourth estate watchdogs have become card-carrying members of the second estate (and some even the first estate). As such, some journalists are more concerned with protecting and promoting business and government interests than consumer interests. See also | information | first estate | second estate | third estate | Recommended Citation:FOURTH ESTATE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: March 28, 2024]. AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: fourth estate
Search Again?
Back to the GLOSS*arama
|
|
PERFECT COMPETITION, REVENUE DIVISION The marginal approach to analyzing a perfectly competitive firm's short-run profit maximizing production decision can be used to identify the division of total revenue among variable cost, fixed cost, and economic profit. The U-shaped cost curves used in this analysis provide all of the information needed on the cost side of the firm's decision. The demand curve facing the firm (which is also the firm's average revenue and marginal revenue curves) provides all of the information needed on the revenue side.
Complete Entry | Visit the WEB*pedia |
|
|
PURPLE SMARPHIN [What's This?]
Today, you are likely to spend a great deal of time browsing through a long list of dot com websites hoping to buy either hand lotion, a big bottle of hand lotion or a lighted magnifying glass. Be on the lookout for broken fingernail clippers. 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.
|
|
"Good judgment comes from experience, and often experience comes from bad judgment." -- Rita Mae Brown ‚ Writer
|
|
PV Present Value
|
|
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
|
|