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The Gordon-Schaefer model is a bioeconomic model applied in the fishing industry.It may be used to compute the maximum sustainable yield.It takes account of biological growth rates, carrying capacity, and total and marginal costs and revenues.
At first, the population growth rate is fast, but it begins to slow as the population grows until it levels off to the maximum growth rate, after which it begins to decrease (figure 2). The equation for figure 2 is the differential of equation 1.1 ( Verhulst's 1838 growth model ): [ 13 ]
The equation can also be written: () ... The logistic function, with maximum growth rate at time , is the case where = =. Generalised logistic differential equation ...
The standard logistic function is the logistic function with parameters =, =, =, which yields = + = + = / / + /.In practice, due to the nature of the exponential function, it is often sufficient to compute the standard logistic function for over a small range of real numbers, such as a range contained in [−6, +6], as it quickly converges very close to its saturation values of 0 and 1.
For example, with an annual growth rate of 4.8% the doubling time is 14.78 years, and a doubling time of 10 years corresponds to a growth rate between 7% and 7.5% (actually about 7.18%). When applied to the constant growth in consumption of a resource, the total amount consumed in one doubling period equals the total amount consumed in all ...
Inflation's steady march lower continued Wednesday, with the Bureau of Labor Statistics reporting that consumer price growth slowed to 2.5% in August, the lowest measure since 2021.
CEOs weigh how to cut costs while stoking growth and innovation. Diane Brady, Nicholas Gordon. March 22, 2024 at 4:08 AM. Getty Images. Good morning.
The Hubbert curve is an approximation of the production rate of a resource over time. It is a symmetric logistic distribution curve, [ 1 ] often confused with the "normal" gaussian function . It first appeared in "Nuclear Energy and the Fossil Fuels," geologist M. King Hubbert 's 1956 presentation to the American Petroleum Institute , as an ...