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In mathematics, summation by parts transforms the summation of products of sequences into other summations, often simplifying the computation or (especially) estimation of certain types of sums. It is also called Abel's lemma or Abel transformation , named after Niels Henrik Abel who introduced it in 1826.
Simple functions are sufficiently "nice" that using them makes mathematical reasoning, theory, and proof easier. For example, simple functions attain only a finite number of values. Some authors also require simple functions to be measurable, as used in practice. A basic example of a simple function is the floor function over the half-open ...
In linear programming, reduced cost, or opportunity cost, is the amount by which an objective function coefficient would have to improve (so increase for maximization problem, decrease for minimization problem) before it would be possible for a corresponding variable to assume a positive value in the optimal solution.
The production function is one of the key concepts of mainstream neoclassical theories, used to define marginal product and to distinguish allocative efficiency, a key focus of economics. One important purpose of the production function is to address allocative efficiency in the use of factor inputs in production and the resulting distribution ...
Elimination by aspects is defining a level for each aspect of a product they want and eliminating all other options that do not meet this requirement e.g. price under $100, colour etc. until there is only one product left which is assumed to be the product the consumer will choose.
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For the simple case of a good that is produced with two inputs, the function is of the form q = Min ( z 1 a , z 2 b ) {\displaystyle q={\text{Min}}\left({\frac {z_{1}}{a}},{\frac {z_{2}}{b}}\right)} where q is the quantity of output produced, z 1 and z 2 are the utilised quantities of input 1 and input 2 respectively, and a and b are ...
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