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That is, if we consider a sufficiently small change in some exogenous parameter, we can calculate how each endogenous variable changes using only the first derivatives of the terms that appear in the equilibrium equations. For example, suppose the equilibrium value of some endogenous variable is determined by the following equation:
The Marshall–Lerner condition (after Alfred Marshall and Abba P. Lerner) is satisfied if the absolute sum of a country's export and import demand elasticities (demand responsiveness to price) is greater than one. [1]
For example, if the reaction equation had 2 H + ions in the product, then the "change" for that cell would be "2x" The fourth row, labeled E, is the sum of the first two rows and shows the final concentrations of each species at equilibrium. It can be seen from the table that, at equilibrium, [H +] = x.
An increased deficit by the national government shifts the IS curve to the right. This raises the equilibrium interest rate (from i 1 to i 2) and national income (from Y 1 to Y 2), as shown in the graph above. The equilibrium level of national income in the IS–LM diagram is referred to as aggregate demand.
For a reversible reaction, the equilibrium constant can be measured at a variety of temperatures. This data can be plotted on a graph with ln K eq on the y-axis and 1 / T on the x axis. The data should have a linear relationship, the equation for which can be found by fitting the data using the linear form of the Van 't Hoff equation
A common and specific example is the supply-and-demand graph shown at right. This graph shows supply and demand as opposing curves, and the intersection between those curves determines the equilibrium price. An alteration of either supply or demand is shown by displacing the curve to either the left (a decrease in quantity demanded or supplied ...
Example Bjerrum plot: Change in carbonate system of seawater from ocean acidification.. A Bjerrum plot (named after Niels Bjerrum), sometimes also known as a Sillén diagram (after Lars Gunnar Sillén), or a Hägg diagram (after Gunnar Hägg) [1] is a graph of the concentrations of the different species of a polyprotic acid in a solution, as a function of pH, [2] when the solution is at ...
We will use the term 'price line' to denote a common tangent to two indifference curves. An equilibrium therefore corresponds to a budget line which is also a price line, and the price at equilibrium is the gradient of the line. In Fig. 3 ω is the endowment and ω ' is the equilibrium allocation. The reasoning behind this is as follows. Fig. 4.