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Static equilibrium (economics), the intersection of supply and demand in any market; Sunspot equilibrium, an economic equilibrium in which non-fundamental factors affect prices or quantities; Underemployment equilibrium, a situation in Keynesian economics with a persistent shortfall relative to full employment and potential output
In a chemical reaction, chemical equilibrium is the state in which both the reactants and products are present in concentrations which have no further tendency to change with time, so that there is no observable change in the properties of the system. [1] This state results when the forward reaction proceeds at the same rate as the reverse ...
In chemistry, the common-ion effect refers to the decrease in solubility of an ionic precipitate by the addition to the solution of a soluble compound with an ion in common with the precipitate. [1] This behaviour is a consequence of Le Chatelier's principle for the equilibrium reaction of the ionic association / dissociation .
A Markov process is called a reversible Markov process or reversible Markov chain if there exists a positive stationary distribution π that satisfies the detailed balance equations [13] =, where P ij is the Markov transition probability from state i to state j, i.e. P ij = P(X t = j | X t − 1 = i), and π i and π j are the equilibrium probabilities of being in states i and j, respectively ...
In chemistry, Le Chatelier's principle (pronounced UK: / l ə ʃ æ ˈ t ɛ l j eɪ / or US: / ˈ ʃ ɑː t əl j eɪ /) [1] is a principle used to predict the effect of a change in conditions on chemical equilibrium. [2] Other names include Chatelier's principle, Braun–Le Chatelier principle, Le Chatelier–Braun principle or the equilibrium ...
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The equilibrium constant for a full redox reaction can be obtained from the standard redox potentials of the constituent half-reactions. At equilibrium the potential for the two half-reactions must be equal to each other and, of course, the number of electrons exchanged must be the same in the two half reactions. [32]
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