acquisition costs
the costs of acquiring title to an asset, measured by the difference between the original price and the immediate resale value

advalorem tax
a tax that encourages retailers to separate the components of a good so that they can be sold separately in order to reduce the tax payment

all-or-nothing demand curve
a curve showing the maximum amount that a consumer is willing to pay for an extra unit of a good, given that the consumer has to take all of the units at that price or have none of them

all-or-nothing pricing
a means of extracting the consumer's surplus by denying the consumer the choice of how much of a good to purchase; the consumer must either buy the whole package or none at all

allocative inefficiency of monopoly
in the case of monpoly output, price is greater than marginal cost, meaning that ocnsuers pay an amount for th elast unit that exceeds the opportunity cost of producing it

arc elasticity
elasticity measured over a finite interval of the demand curve

assumption
something that plays a vital role in constructing a theory; it is used to derive hypotheses and sets the confines within which a theory operates

average cost
the total cost divided by the amount of output

average product
the total product divided by the number of varible factors used

average revenue
the total revenue divided by the number of units of a good sold

average use value
the total use value divided by the number of units of a good