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Under the standard assumption of neoclassical economics that goods and services are continuously divisible, the marginal rates of substitution will be the same regardless of the direction of exchange, and will correspond to the slope of an indifference curve (more precisely, to the slope multiplied by −1) passing through the consumption bundle in question, at that point: mathematically, it ...
Economic order quantity. Economic order quantity ( EOQ ), also known as financial purchase quantity or economic buying quantity, [citation needed] is the order quantity that minimizes the total holding costs and ordering costs in inventory management. It is one of the oldest classical production scheduling models.
Production–possibility frontier. In microeconomics, a production–possibility frontier ( PPF ), production possibility curve ( PPC ), or production possibility boundary ( PPB) is a graphical representation showing all the possible options of output for two goods that can be produced using all factors of production, where the given resources ...
Lift coefficient. In fluid dynamics, the lift coefficient ( CL) is a dimensionless quantity that relates the lift generated by a lifting body to the fluid density around the body, the fluid velocity and an associated reference area. A lifting body is a foil or a complete foil-bearing body such as a fixed-wing aircraft.
The inverse demand function can be used to derive the total and marginal revenue functions. Total revenue equals price, P, times quantity, Q, or TR = P×Q. Multiply the inverse demand function by Q to derive the total revenue function: TR = (120 - .5Q) × Q = 120Q - 0.5Q². The marginal revenue function is the first derivative of the total ...
The absolute value of the slope of the isocost line, with capital plotted vertically and labour plotted horizontally, equals the ratio of unit costs of labour and capital. The slope is: /. The isocost line is combined with the isoquant map to determine the optimal production point at any given level of output. Specifically, the point of ...
Slope deflection method. The slope deflection method is a structural analysis method for beams and frames introduced in 1914 by George A. Maney. [1] The slope deflection method was widely used for more than a decade until the moment distribution method was developed. In the book, "The Theory and Practice of Modern Framed Structures", written by ...
It is the point on where the IRF has its maximum slope, and where the value is half-way between the minimum value of and the maximum value of 1. The example item is of medium difficulty since =0.0, which is near the center of the distribution. Note that this model scales the item's difficulty and the person's trait onto the same continuum.