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The cost of representing a number N in a given base b can be defined as (,) = ⌊ + ⌋where we use the floor function ⌊ ⌋ and the base-b logarithm.. If both b and N are positive integers, then the quantity (,) is equal to the number of digits needed to express the number N in base b, multiplied by base b. [1]
Total costs = fixed costs + (unit variable cost × number of units) Total revenue = sales price × number of unit These are linear because of the assumptions of constant costs and prices, and there is no distinction between units produced and units sold, as these are assumed to be equal.
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 ...
Here, a new graph G' is built from two copies of the original graph G: a forward copy Gf and a backward copy Gb. The backward copy is "flipped", so that, in each side of G', there are now n+r vertices. Between the copies, we need to add two kinds of linking edges: [1]: 4–6
The cost-minimization problem of the firm is to choose an input bundle (K,L) feasible for the output level y that costs as little as possible. A cost-minimizing input bundle is a point on the isoquant for the given y that is on the lowest possible isocost line. Put differently, a cost-minimizing input bundle must satisfy two conditions:
In linear programming, reduced cost, or opportunity cost, is the amount by which an objective function coefficient would have to improve (so increase for maximization problem, decrease for minimization problem) before it would be possible for a corresponding variable to assume a positive value in the optimal solution.
In science and engineering, a log–log graph or log–log plot is a two-dimensional graph of numerical data that uses logarithmic scales on both the horizontal and vertical axes. Power functions – relationships of the form y = a x k {\displaystyle y=ax^{k}} – appear as straight lines in a log–log graph, with the exponent corresponding to ...
The graph of a function on its own does not determine the codomain. It is common [3] to use both terms function and graph of a function since even if considered the same object, they indicate viewing it from a different perspective. Graph of the function () = over the interval [−2,+3]. Also shown are the two real roots and the local minimum ...