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The firm produces at the quantity of output where marginal cost equals marginal revenue (labeled Q in the upper graph), and its per-unit economic profit is the difference between average revenue AR and average total cost ATC at that point, the difference being P minus C in the graph's notation. With firms making economic profit and with free ...
Williamson sees the limit on the size of the firm as being given partly by costs of delegation (as a firm's size increases its hierarchical bureaucracy does too), and the large firm's increasing inability to replicate the high-powered incentives of the residual income of an owner-entrepreneur. This is partly because it is in the nature of a ...
A drawing of a graph with 6 vertices and 7 edges.. In mathematics and computer science, graph theory is the study of graphs, which are mathematical structures used to model pairwise relations between objects.
The proof involves using Courcelle's theorem to build an automaton that can test the property, and then examining the automaton to determine whether there is any graph it can accept. As a partial converse, [ 34 ] Seese (1991) proved that, whenever a family of graphs has a decidable MSO 2 satisfiability problem, the family must have bounded ...
An example graph, with the properties of being planar and being connected, and with order 6, size 7, diameter 3, girth 3, vertex connectivity 1, and degree sequence <3, 3, 3, 2, 2, 1> In graph theory , a graph property or graph invariant is a property of graphs that depends only on the abstract structure, not on graph representations such as ...
Equivalently, each edge in the graph has at most one endpoint in . A set is independent if and only if it is a clique in the graph's complement. The size of an independent set is the number of vertices it contains. Independent sets have also been called "internally stable sets", of which "stable set" is a shortening. [1]
There is more than one firm and all firms produce a homogeneous product, i.e., there is no product differentiation; Firms do not cooperate, i.e., there is no collusion; Firms have market power, i.e., each firm's output decision affects the good's price; The number of firms is fixed; Firms compete in quantities rather than prices; and
Spectral graph theory is the branch of graph theory that uses spectra to analyze graphs. See also spectral expansion. split 1. A split graph is a graph whose vertices can be partitioned into a clique and an independent set. A related class of graphs, the double split graphs, are used in the proof of the strong perfect graph theorem.