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In the decimal numbering system, the radix complement is called the ten's complement and the diminished radix complement the nines' complement. In binary, the radix complement is called the two's complement and the diminished radix complement the ones' complement. The naming of complements in other bases is similar.
In economics and game theory, the decisions of two or more players are called strategic complements if they mutually reinforce one another, and they are called strategic substitutes if they mutually offset one another. These terms were originally coined by Bulow, Geanakoplos, and Klemperer (1985). [1]
While there are several ways to derive the Slutsky equation, the following method is likely the simplest. Begin by noting the identity (,) = (, (,)) where (,) is the expenditure function, and u is the utility obtained by maximizing utility given p and w.
In economics, a complementary good is a good whose appeal increases with the popularity of its complement. [further explanation needed] Technically, it displays a negative cross elasticity of demand and that demand for it increases when the price of another good decreases. [1]
The theory is generally associated with Hirschman. He presented a complete theoretical formulation of the strategy. Underdeveloped countries display common characteristics: low levels of GNI per capita and slow GNI per capita growth, large income inequalities and widespread poverty, low levels of productivity, great dependence on agriculture, a backward industrial structure, a high proportion ...
WASHINGTON (Reuters) -President-elect Donald Trump said on Saturday the U.S. should not be involved in the conflict in Syria, where rebel forces are threatening the government of President Bashar ...
In neoclassical economics, on the other hand, the preoccupation with society's long term growth and development inherent in classical economics was abandoned altogether; instead, economic analysis came to focus on the study of the relationship between given ends and given scarce means, forming the concept of general equilibrium theory within an ...
After days of services honoring former President Jimmy Carter, an official state funeral is set for Thursday at the Washington National Cathedral in Washington, D.C. Carter's state funeral is set ...