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This means that the equilibrium price depends positively on the demand intercept if g – b > 0, but depends negatively on it if g – b < 0. Which of these possibilities is relevant? In fact, starting from an initial static equilibrium and then changing a, the new equilibrium is relevant only if the market actually goes to that new equilibrium ...
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 ...
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]
The Hammett equation predicts the equilibrium constant or reaction rate of a reaction from a substituent constant and a reaction type constant. The Edwards equation relates the nucleophilic power to polarisability and basicity. The Marcus equation is an example of a quadratic free-energy relationship (QFER). [citation needed]
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
The Fokker–Planck equation has multiple applications in information theory, graph theory, data science, finance, economics etc. It is named after Adriaan Fokker and Max Planck, who described it in 1914 and 1917. [2] [3] It is also known as the Kolmogorov forward equation, after Andrey Kolmogorov, who independently discovered it in 1931. [4]
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 ...
Agricultural markets are a context where the cobweb model might apply, since there is a lag between planting and harvesting (Kaldor, 1934, p. 133–134 gives two agricultural examples: rubber and corn). Suppose for example that as a result of unexpectedly bad weather, farmers go to market with an unusually small crop of strawberries.