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Producer surplus, or producers' surplus, is the amount that producers benefit by selling at a market price that is higher than the least that they would be willing to sell for; this is roughly equal to profit (since producers are not normally willing to sell at a loss and are normally indifferent to selling at a break-even price).
The Kubo formula, named for Ryogo Kubo who first presented the formula in 1957, [1] [2] is an equation which expresses the linear response of an observable quantity due to a time-dependent perturbation.
Wire-grid Cobb–Douglas production surface with isoquants A two-input Cobb–Douglas production function with isoquants. In economics and econometrics, the Cobb–Douglas production function is a particular functional form of the production function, widely used to represent the technological relationship between the amounts of two or more inputs (particularly physical capital and labor) and ...
This equation is a special form of the more general weakly singular Volterra integral equation of the first kind, called Abel's integral equation: [7] = Strongly singular: An integral equation is called strongly singular if the integral is defined by a special regularisation, for example, by the Cauchy principal value.
Basic tools of econophysics are probabilistic and statistical methods often taken from statistical physics.. Physics models that have been applied in economics include the kinetic theory of gas (called the kinetic exchange models of markets [7]), percolation models, chaotic models developed to study cardiac arrest, and models with self-organizing criticality as well as other models developed ...
A Sommerfeld expansion is an approximation method developed by Arnold Sommerfeld for a certain class of integrals which are common in condensed matter and statistical physics. Physically, the integrals represent statistical averages using the Fermi–Dirac distribution.
The formal foundation of TDDFT is the Runge–Gross (RG) theorem (1984) [1] – the time-dependent analogue of the Hohenberg–Kohn (HK) theorem (1964). [2] The RG theorem shows that, for a given initial wavefunction, there is a unique mapping between the time-dependent external potential of a system and its time-dependent density.
The finite element method (FEM) is used to find approximate solution of partial differential equations (PDE) and integral equations. The solution approach is based either on eliminating the time derivatives completely (steady state problems), or rendering the PDE into an equivalent ordinary differential equation , which is then solved using ...