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  2. Price equation - Wikipedia

    en.wikipedia.org/wiki/Price_equation

    Example for a trait under positive selection. The Price equation shows that a change in the average amount of a trait in a population from one generation to the next is determined by the covariance between the amounts of the trait for subpopulation and the fitnesses of the subpopulations, together with the expected change in the amount of the trait value due to fitness, namely ():

  3. Ramsey problem - Wikipedia

    en.wikipedia.org/wiki/Ramsey_problem

    The Ramsey problem, or Ramsey pricing, or Ramsey–Boiteux pricing, is a second-best policy problem concerning what prices a public monopoly should charge for the various products it sells in order to maximize social welfare (the sum of producer and consumer surplus) while earning enough revenue to cover its fixed costs.

  4. Biological rules - Wikipedia

    en.wikipedia.org/wiki/Biological_rules

    The pygmy mammoth is an example of insular dwarfism, a case of Foster's rule, its unusually small body size an adaptation to the limited resources of its island home.. A biological rule or biological law is a generalized law, principle, or rule of thumb formulated to describe patterns observed in living organisms.

  5. Walras's law - Wikipedia

    en.wikipedia.org/wiki/Walras's_law

    Walras's law is a consequence of finite budgets. If a consumer spends more on good A then they must spend and therefore demand less of good B, reducing B's price. The sum of the values of excess demands across all markets must equal zero, whether or not the economy is in a general equilibrium.

  6. Combinatorial principles - Wikipedia

    en.wikipedia.org/wiki/Combinatorial_principles

    The rule of sum is an intuitive principle stating that if there are a possible outcomes for an event (or ways to do something) and b possible outcomes for another event (or ways to do another thing), and the two events cannot both occur (or the two things can't both be done), then there are a + b total possible outcomes for the events (or total possible ways to do one of the things).

  7. Samuelson condition - Wikipedia

    en.wikipedia.org/wiki/Samuelson_condition

    The sum of the marginal benefits represent the aggregate willingness to pay or aggregate demand. The marginal cost is, under competitive market conditions, the supply for public goods. Hence the Samuelson condition can be thought of as a generalization of supply and demand concepts from private to public goods.

  8. Addition principle - Wikipedia

    en.wikipedia.org/wiki/Addition_principle

    5+0=5 illustrated with collections of dots. In combinatorics, the addition principle [1] [2] or rule of sum [3] [4] is a basic counting principle.Stated simply, it is the intuitive idea that if we have A number of ways of doing something and B number of ways of doing another thing and we can not do both at the same time, then there are + ways to choose one of the actions.

  9. Glossary of economics - Wikipedia

    en.wikipedia.org/wiki/Glossary_of_economics

    Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...