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One of the basic principles of algebra is that one can multiply both sides of an equation by the same expression without changing the equation's solutions. However, strictly speaking, this is not true, in that multiplication by certain expressions may introduce new solutions that were not present before. For example, consider the following ...
A variety of factors can lead to missing markets: A classic example of a missing market is the case of an externality like pollution, where decision makers are not responsible for some of the consequences of their actions.
Surplus value is therefore the [Marxist] disguise of profit which must be removed before the real nature of profit can be discovered. [7] Samuelson not only dismissed the labour theory of value because of the transformation problem, but provided himself, in cooperation with economists like Carl Christian von Weizsäcker, solutions.
The Clay Institute has pledged a US $1 million prize for the first correct solution to each problem. The Clay Mathematics Institute officially designated the title Millennium Problem for the seven unsolved mathematical problems, the Birch and Swinnerton-Dyer conjecture, Hodge conjecture, Navier–Stokes existence and smoothness, P versus NP ...
Many mathematical problems have been stated but not yet solved. These problems come from many areas of mathematics, such as theoretical physics, computer science, algebra, analysis, combinatorics, algebraic, differential, discrete and Euclidean geometries, graph theory, group theory, model theory, number theory, set theory, Ramsey theory, dynamical systems, and partial differential equations.
In economics, an excess supply, economic surplus [1] market surplus or briefly supply is a situation in which the quantity of a good or service supplied is more than the quantity demanded, [2] and the price is above the equilibrium level determined by supply and demand. That is, the quantity of the product that producers wish to sell exceeds ...
Surplus sharing is a kind of a fair division problem where the goal is to share the financial benefits of cooperation (the "economic surplus") among the cooperating agents. As an example, suppose there are several workers such that each worker i , when working alone, can gain some amount u i .
The first solution to the problem is resolved using a "spatial fix." The regionality of overaccumulation allows the crisis to be relieved by moving capital or labor to a different territory and beginning new production. This solution relieves the surplus by moving it into a region that has a higher demand for it.