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Absolute zero is the lowest limit of the thermodynamic temperature scale; a state at which the enthalpy and entropy of a cooled ideal gas reach their minimum value. The fundamental particles of nature have minimum vibrational motion, retaining only quantum mechanical, zero-point energy -induced particle motion.
Points that lie above the production possibilities frontier/curve are not possible/unattainable because the quantities cannot be produced using currently available resources and technology. Points that lie strictly below the frontier/curve are inefficient , because the economy can produce more of at least one good without sacrificing the ...
Different temperature scales map its intensity in different ways. In the celsius scale the zero is chosen to be the point where water freezes, and likewise, in cardinal utility theory one would be tempted to think that the choice of zero would correspond to a good or service that brings exactly 0 utils. However this is not necessarily true.
At absolute zero (zero kelvins) the system must be in a state with the minimum possible energy. Entropy is related to the number of accessible microstates, and there is typically one unique state (called the ground state) with minimum energy. [1] In such a case, the entropy at absolute zero will be exactly zero.
The mathematical first order conditions for a maximum of the consumer problem guarantee that the demand for each good is homogeneous of degree zero jointly in nominal prices and nominal wealth, so there is no money illusion. When the prices of goods change, the optimal consumption of these goods will depend on the substitution and income effects.
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By Walras's law, if all but one of the excess demands is zero then the last one has to be zero as well. This means that there is one redundant equation and we can normalize one of the prices or a combination of all prices (in other words, only relative prices are determined; not the absolute price level).
Meghan Trainor is sharing her cosmetic procedure regrets.. The singer, 30, admitted she’s had “too much Botox” to the point where she “cannot smile” while speaking on the Nov. 20 episode ...