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However, there is no hard and fast definition as to what is classified as "long" or "short" and mostly relies on the economic perspective being taken. Marshall's original introduction of long-run and short-run economics reflected the 'long-period method' that was a common analysis used by classical political economists.
The continuity of in the maximum theorem is the result of combining two independent theorems together. Theorem 1 . [ 9 ] [ 10 ] [ 11 ] If f {\displaystyle f} is upper semicontinuous and C {\displaystyle C} is upper hemicontinuous, nonempty and compact-valued, then f ∗ {\displaystyle f^{*}} is upper semicontinuous.
Standard paper sizes, such as the international standard A4, also impose limitations on line length: using the US standard Letter paper size (8.5×11"), it is only possible to print a maximum of 85 or 102 characters (with the font size either 10 or 12 characters per inch) without margins on the typewriter. With various margins – usually from ...
"The Maximum Principle". Optimal Control Theory and Static Optimization in Economics. New York: Cambridge University Press. pp. 127– 168. ISBN 0-521-33158-7. Takayama, Akira (1985). "Developments of Optimal Control Theory and Its Applications". Mathematical Economics (2nd ed.). New York: Cambridge University Press. pp. 600– 719.
For example, a solid cube is convex; however, anything that is hollow or dented, for example, a crescent shape, is non‑convex. Trivially , the empty set is convex. More formally, a set Q is convex if, for all points v 0 and v 1 in Q and for every real number λ in the unit interval [0,1] , the point
For example, in economics the optimal profit to a player is calculated subject to a constrained space of actions, where a Lagrange multiplier is the change in the optimal value of the objective function (profit) due to the relaxation of a given constraint (e.g. through a change in income); in such a context is the marginal cost of the ...
In typography, line length is the width of a block of typeset text, usually measured in units of length like inches or points or in characters per line (in which case it is a measure). A block of text or paragraph has a maximum line length that fits a determined design. If the lines are too short then the text becomes disjointed; if they are ...
In economics and microeconomics, the economic region of production is an offshoot of the theory of production function with two variables. It is a cost-oriented theory which defines the region in which the optimal factor combination will lie. [1] It serves as a map of the region of optimal production.