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The least cost avoider is the actor who can act to prevent a loss at the lowest cost. Assume a factory is polluting the air in a residential neighborhood. If it is cheaper for the factory to install a scrubber, move, or stop operations than it is for the residents to move to a new location or otherwise avoid the pollution, then the factory is the least cost avoider. If it is cheaper for the residents to move away from the nuisance, they are the least cost avoiders. Check out Ronald Coase and Guido Calabresi for more.
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What is an avoider?
An avoider is a person who intentionally avoids things, or a vessel in which objects are carried away in order to avoid other objects.
Who do you tell about a tax avoider?
http://www.hmrc.gov.uk/tax-evasion/hotline.htm
How do you say avoid in a noun?
The noun forms for the verb to avoid are avoider, avoidance, and the gerund, avoiding.
What is least cost site?
a least cost site is a business location that allows businesses to minimize its cost.
What is meant by 'least cost routing'?
There are many things that is meant by the phrase 'least cost routing'. 'Least cost routing' typically refers to the process of selecting the path of outbound communications.
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Is use of least-cost input combination a necessary condition for profit maximization is it a sufficient condition explain?
1. Minimization of Cost for a Given Level of Output: Least Cost Conditions
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