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MARGINAL ANALYSIS: A basic technique used in the economics that analyzes small, incremental changes in key variables. The economic obsession with marginal changes exists for at least two reasons. One reason is that many economic decisions made in the real world are made "at the margin." A second reason for using marginal analysis can best be termed analytical sophistication.
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MARGINAL FACTOR COST CURVE A curve that graphically represents the relation between marginal factor cost incurred by a firm for hiring an input and the quantity of input employed. A profit-maximizing firm hires the quantity of input found at the intersection of the marginal factor cost curve and marginal revenue product curve. The marginal factor cost curve for a firm with no market control is horizontal. The marginal factor cost curve for a firm with market control is positively sloped and lies above the average factor cost curve.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store looking to buy either a dozen high trajectory optic orange golf balls or a large red and white striped beach towel. Be on the lookout for the happiest person in the room.
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Junk bonds are so called because they have a better than 50% chance of default, carrying a Standard & Poor's rating of CC or lower.
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"Experience keeps a dear school, but fools will learn in no other. " -- Benjamin Franklin
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RJE
RAND Journal of Economics
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