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The iterative proportional fitting procedure (IPF or IPFP, also known as biproportional fitting or biproportion in statistics or economics (input-output analysis, etc.), RAS algorithm [1] in economics, raking in survey statistics, and matrix scaling in computer science) is the operation of finding the fitted matrix which is the closest to an initial matrix but with the row and column totals of ...
The minimum efficient scale can be computed by equating average cost (AC) with marginal cost (MC): = / = The rationale behind this is that if a firm were to produce a small number of units, its average cost per unit would be high because the bulk of the costs would come from fixed costs .
Business mathematics comprises mathematics credits taken at an undergraduate level by business students.The course [3] is often organized around the various business sub-disciplines, including the above applications, and usually includes a separate module on interest calculations; the mathematics itself comprises mainly algebraic techniques. [1]
In mainstream microeconomics, the returns to scale faced by a firm are purely technologically imposed and are not influenced by economic decisions or by market conditions (i.e., conclusions about returns to scale are derived from the specific mathematical structure of the production function in isolation). As production scales up, companies can ...
Economies of scale is related to and can easily be confused with the theoretical economic notion of returns to scale. Where economies of scale refer to a firm's costs, returns to scale describe the relationship between inputs and outputs in a long-run (all inputs variable) production function.
Network function virtualization defines these terms differently: scaling out/in is the ability to scale by adding/removing resource instances (e.g., virtual machine), whereas scaling up/down is the ability to scale by changing allocated resources (e.g., memory/CPU/storage capacity). [9]
First, storing your cash in a high-interest savings account could deliver returns of over 4%, while the U.S. Bank's standard savings APY of 0.01%. Your economic status doesn’t have to determine ...
This slide rule is positioned to yield several values: From C scale to D scale (multiply by 2), from D scale to C scale (divide by 2), A and B scales (multiply and divide by 4), A and D scales (squares and square roots). In addition to the logarithmic scales, some slide rules have other mathematical functions encoded on other auxiliary scales.