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It is a physical constant, conventionally written as μ 0 (pronounced "mu nought" or "mu zero"). It quantifies the strength of the magnetic field induced by an electric current. Expressed in terms of SI base units, it has the unit kg⋅m⋅s −2 ⋅A −2. It can be also expressed in terms of SI derived units, N⋅A −2.
In SI units, permeability is measured in henries per meter (H/m), or equivalently in newtons per ampere squared (N/A 2). The permeability constant μ 0, also known as the magnetic constant or the permeability of free space, is the proportionality between magnetic induction and magnetizing force when forming a magnetic field in a classical vacuum.
Economic graphs are presented only in the first quadrant of the Cartesian plane when the variables conceptually can only take on non-negative values (such as the quantity of a product that is produced). Even though the axes refer to numerical variables, specific values are often not introduced if a conceptual point is being made that would ...
Vacuum permittivity, commonly denoted ε 0 (pronounced "epsilon nought" or "epsilon zero"), is the value of the absolute dielectric permittivity of classical vacuum.It may also be referred to as the permittivity of free space, the electric constant, or the distributed capacitance of the vacuum.
The total cost curve, if non-linear, can represent increasing and diminishing marginal returns.. The short-run total cost (SRTC) and long-run total cost (LRTC) curves are increasing in the quantity of output produced because producing more output requires more labor usage in both the short and long runs, and because in the long run producing more output involves using more of the physical ...
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 ...
If income were to change, for example, the effect of the change would be represented by a change in the value of "a" and be reflected graphically as a shift of the demand curve. The constant b is the slope of the demand curve and shows how the price of the good affects the quantity demanded.
Marginalism is an economic theory and method of analysis that suggests that individuals make economic decisions by weighing the benefits of consuming an additional unit of a good or service against the cost of acquiring it. In other words, value is determined by the additional utility of satisfaction provided by each extra unit consumed.