FEATURED BLOG POST
There are some economic terms that are fixed and immutable. Marginal cost will always be the addition to cost from an incremental increase in output, and average cost will never be anything other than total cost divided by output. Other economic terms can change over time, or with shifts in policy. Nigar Hashimzade and Gareth Myles explore this idea using the terms associated with tax and tax avoidance as an example.