|
INCREASING-COST INDUSTRY: A perfectly competitive industry with a positively-sloped long-run industry supply curve that results because expansion of the industry causes higher production cost and resource prices. For an increasing-cost industry the entry of new firms, prompted by an increase in demand, causes the long-run average supply curve of each firm to shift upward, which increases the minimum efficient scale of production.
Visit the GLOSS*arama
|
|
|
|
RULE OF CONSUMER EQUILIBRIUM A condition of consumer equilibrium and utility maximization stating that the marginal utility-price ratios for all goods are equal. This rule is a handy way of checking for consumer equilibrium and utility maximization. If the rule is not satisfied, then consumer equilibrium and utility maximization are not achieved.
Complete Entry | Visit the WEB*pedia |
|
|
ORANGE REBELOON [What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store trying to buy either a case of blank recordable DVDs or a pair of red goulashes with shiny buckles. Be on the lookout for slightly overweight pizza delivery guys. Your Complete Scope
This isn't me! What am I?
|
|
Lombard Street is London's equivalent of New York's Wall Street.
|
|
"The greatest things ever done on Earth have been done little by little. " -- William Jennings Bryan
|
|
G7 Group of Seven
|
|
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
|
|