Average variable cost (AVC): the variable cost per unit(AVC/q). Average total cost (ATC): Total costs divided by output(TC/q). ... Average variable cost is at its minimum when AVC= MC. ... Average Cost Average fixed cost is fixed cost divided by output AFC = FC / q. ... The Family of Short-Run Average Cost Curves Output per period $ Long-run average cost ATC1 ATC2 ATC3 The Firm's Isoquant Lines An isoquant curve shows all the technologically efficient combinations of labor and capital that can be used to produce a specified level of output. ...

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• Approx Pages: 7
• Grade Level: High School

In the Philippines an average family of 6 only earn $54.18 a month, and an average family in America can earn that within a few hours of work. ... In 1988 the poverty line for a family of 6, it was estimated that P$2,709 pesos a month which now calculates to US$54.18. ... More than 80% of the 30% of the poorest families in the Philippines lived in the rural areas in the mid-1980. ... In the Philippines the urban poor family only get P$1,315 pesos. ...

• Word Count: 691
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• Grade Level: High School

From 1960 to 1974 the NMP grew at an average yearly rate of 5.8 percent: the respective figures for industry and agriculture were 6.9 percent and 1.2 percent. ... From 1960 to 1974 the NMP grew at an average yearly rate of 5.8 percent; the respective figures for industry and agriculture were 6.9 percent and 1.2 percent. ... In 1976 the average monthly income of an employee in the state-owned sector of the economy was about 3,200 forints. ... Working wives are common, and prosperous families are likely to have two or wage earners. In the mid-1970's the typical worker's family spent 40...

• Word Count: 1630
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• Grade Level: Undergraduate

One finding was that the aid to families with dependant families increases significantly over 30 years. ... This is when TANF became a program available to families. ... Estimated earnings are average retail wages in Tompkins Co. (30 hour-work week), New York State Labor Department, 2000. This analysis assumes a ratio of two children per family/parent. ... Estimated earnings are average retail wages in Tompkins Co. (30 hour-work week), New York State Labor Department, 2000. ...

• Word Count: 1693
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• Grade Level: High School

The Council of Economic Advisors reported that in Ninety-five and Ninety-six, more than half of new jobs created were in fields where the average wage ranked in the top third of all salaries. Another great benefit according to the Investor's Business Daily in the January 19, 1999 publication is that 1.67 million families left welfare roles and 1.74 million more single parents found jobs...

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Lucia cannot support our own infrastructure because most of us don't pay takes because the average GDP per capita is so low. ... I don't have to pay for my house because my successful brother, who was emigrated to the U.S sends our family money regularly to pay for the care of our mother. ...

• Word Count: 334
• Approx Pages: 1
• Grade Level: High School

Family status also influenced the female participation rate but later on during 1981 it had a more less affect than in 1971. ... However the female participation rate is not so much related to family status as today as it was many years ago. ... In 1981 most women spent an average of 1,247 hours a year working, compared with 1,431 hours in 1971 which had dropped about 15 percent. Even men saw their average hours decrease by 13 percent. ... When women first started entering the labor force they were hassled by the males because they were supposed to traditional w...

• Word Count: 1055
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• Grade Level: High School

Some of the positive aspects of Obamacare that affect the average American person are that insurance companies are no longer allowed to deny a person coverage for having a preexisting condition. ... In addition to Obamacare impacting average Americans, it also affects small and large businesses. ... There are quite a few positive aspects of Obamacare such as insurance companies no longer being able to deny people for preexisting conditions and low income families gaining access to health coverage. ... Giving low income families access to affordable health care is good. ...

• Word Count: 1100
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• Grade Level: Undergraduate

Basically how life insurance works is If you pass away during the term or amount of time you are covered for, your family would receive the amount you specified when you started the policy, so you can put in a much or as less as you want. ... Id say this because if he or she is single then they don't have kids to worry about and mainly life insurance is for if you have a family or are trying to start one. ... I would say this because again like what was said earlier, if something would have unfortunately happened to a member in the family then the expenses of all the funeral type things ...

• Word Count: 732
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• Grade Level: Undergraduate

"Money makes the world go 'round." Sports could not exist without the presence of money. You have high paid athletes asking for multi-million dollar contacts, while at the same time you have doctors not even making close to that amount. There are corporation buying out sports teams, buying stadiums, and buying everything that has to do with sports. Someone may ask why they do this. ...

• Word Count: 5027
• Approx Pages: 20
• Grade Level: High School

In some other countries our poorest would be considered as average income or wealthy there. ... Most European countries are run on Socialism which has them pay high taxes, but they get many benefits such as free medical, family leave, and six months vacation. ...

• Word Count: 562
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• Grade Level: High School

Martha Johnson is a young girl who comes from an average working class family, who rely on the father's earnings to work out the family's arrears, by means of paying for the house mortgage, mother's current medical expenses, and paying for the older sister's ballet lessons. ... The assets of their family will enhance and assist them all in the long run. ... Also, mounding and building her checks from work and adding toward the inheritance in her savings overtime will remain as Martha's support system for her and her family. ... Another reason Martha must reflect on is...

• Word Count: 1114
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• Grade Level: Undergraduate

Between 1952 and 1957, China's total agricultural output value increased at an average annual rate of 4.6 percent, while its population grew at an annual rate of 2.4 percent. ... In 1978, the per-capita net income of a farming family was only 91.64 Yuan (equivalent to $10.29 American today), of which 72.26 Yuan was distributed in food produce and only 19.38 Yuan in cash. In the twenty years prior to 1978, an average farmer's net income increased at an annual rate of only 2.8 percent (DesForges, 100). ... The average annual growth rates of most farm produce registered were at an al...

• Word Count: 2348
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• Grade Level: Undergraduate

The electrical industry grew almost as quickly. 2/3 of all American families enjoyed electricity by the end of the decade The corporation continued to be the dominant economic unit in the 1920s Growing corporations now had hundreds of thousands of stockholders, and one individual or family rarely held more than 5% of the stock In the final analysis, the corporate managers were accountable only to other managers From 1920-8, some 8, 000 mergers took place as more and more small firms proved unable to complete effectively with new giants. ... Throughout the 1920s, the farmers share o...

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The average of the cycles in America, as quoted in our textbook, since 1924 has been 5 years, with the recession phases lasting one year, and the recovery phase lasting four years. ... If they don't have jobs, then they have no money, and are unable to support themselves and their families. ...

• Word Count: 841
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• Grade Level: High School

China has shown amazing growth averaging 10 per cent per year and shows no slowing down because of globalisation. ... Permission to start small businesses such as restaurants and shops were now given to families and individuals. ... China's people's health has also improved dramatically with life expectancy increasing from 39 years during the 1950's to 71 today, which is higher even than the world average of 64 years. ...

• Word Count: 2010
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• Grade Level: Undergraduate

WEALTH AND DEMOCRACY:A POLITICAL HISTORY OF RICH AND POOR Kevin Phillips' insight into American politics and economics has helped to make history as well as record it. The books he has written, including The Emerging Republican Majority (1969) and The Politics of Rich and Poor (1990), have helped t...

• Word Count: 1228
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• Grade Level: Undergraduate

By this, I mean that family life changes, and careers which affect the daily lives of people. ... Here businesses set the price at a level below long-run average cost, with the deliberate intention of driving weaker competitors out of business. ...

• Word Count: 904
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• Grade Level: High School

Globalisation The word globalisation has become a buzzword since its inception at the beginning of the 1990s. A cottage industry on globalisation has emerged from which academics and intellectuals make a living by writing articles and travelling the world debating with others. The financial and b...

• Word Count: 3797
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• Grade Level: Undergraduate

Between 1965 and 1973, exports grew at average annual rate of 45%, from $175 million to $3,271 million. ... As a result, conglomerates later known as chaebol (family owned conglomerate) have been formed through this expansion of heavy industries. ...

• Word Count: 2573
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• Grade Level: Undergraduate

1.0 Product Introduction Traditionally, novel products have provided immense opportunities for the society and firms to connect and provide value-added commodities. Selecting the appropriate item for the organization and its clients, nevertheless, may not be an easy task. Studies have shown that successful management boards of directors and other leadership teams typically establish and mitigate threats prior to considering and introducing fresh products. When risks are not clearly identified and mitigated accordingly, the unintended results might be costly and disastrous. Organization that su...

• Word Count: 9702
• Approx Pages: 39
• Grade Level: Undergraduate