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Linear Pricing Schedule - A pricing schedule in which there is a fixed price per unit, such that where total price paid is represented by T(q), quantity is represented by q and price per unit is represented by a constant p, T(q) = pq [1]
Nonlinear pricing is a broad term that covers any kind of price structure in which there is a nonlinear relationship between price and the quantity of goods. An example is affine pricing . A nonlinear price schedule is a menu of different-sized bundles at different prices, from which the consumer makes his selection.
The total cost curve, if non-linear, can represent increasing and diminishing marginal returns.. The short-run total cost (SRTC) and long-run total cost (LRTC) curves are increasing in the quantity of output produced because producing more output requires more labor usage in both the short and long runs, and because in the long run producing more output involves using more of the physical ...
When a non-price determinant of demand changes, the curve shifts. These "other variables" are part of the demand function. They are "merely lumped into intercept term of a simple linear demand function." [14] Thus a change in a non-price determinant of demand is reflected in a change in the x-intercept causing the curve to shift along the x ...
A two-part tariff (TPT) is a form of price discrimination wherein the price of a product or service is composed of two parts – a lump-sum fee as well as a per-unit charge. [1] [2] In general, such a pricing technique only occurs in partially or fully monopolistic markets.
In brief, gain scheduling is a control design approach that constructs a nonlinear controller for a nonlinear plant by patching together a collection of linear controllers. A relatively large scope state of the art about gain scheduling has been published in (Survey of Gain-Scheduling Analysis & Design, D.J.Leith, WE.Leithead). [1]
The more curved the price function of the bond is, the more inaccurate duration is as a measure of the interest rate sensitivity. [2] Convexity is a measure of the curvature or 2nd derivative of how the price of a bond varies with interest rate, i.e. how the duration of a bond changes as the interest rate changes. [3]
For example, if the demand function has the form = then the inverse demand function would be =. [5] Note that although price is the dependent variable in the inverse demand function, it is still the case that the equation represents how the price determines the quantity demanded, not the reverse.