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In chemistry, the lever rule is a formula used to determine the mole fraction (x i) or the mass fraction (w i) of each phase of a binary equilibrium phase diagram.It can be used to determine the fraction of liquid and solid phases for a given binary composition and temperature that is between the liquidus and solidus line.
The Keynesian cross diagram is a formulation of the central ideas in Keynes' General Theory of Employment, Interest and Money.It first appeared as a central component of macroeconomic theory as it was taught by Paul Samuelson in his textbook, Economics: An Introductory Analysis.
The structure of the input–output model has been incorporated into national accounting in many developed countries, and as such can be used to calculate important measures such as national GDP. Input–output economics has been used to study regional economies within a nation, and as a tool for national and regional economic planning.
A game can have more than one Nash equilibrium. Even if the equilibrium is unique, it might be weak: a player might be indifferent among several strategies given the other players' choices. It is unique and called a strict Nash equilibrium if the inequality is strict so one strategy is the unique best response:
We can be sure this setup gives us the equilibrium levels as neither firm has an incentive to change their level of output as doing so will harm the firm at the benefit of their rival. Now substituting in q ∗ {\displaystyle q^{*}} for q 1 , q 2 {\displaystyle q_{1},q_{2}} and solving we obtain the symmetric (same for each firm) output ...
In equilibrium [7] implies 0 = π[h(ŝ-p_hat) - ŷ] Subtracting this from [7] yields [11] þ = π[h(q-q_hat) The rate of exchange is positive whenever the real exchange rate is above its equilibrium level, also it is moving towards the equilibrium level] - This yields the direction and movement of the exchange rate.
The relationship between the productive factors and aggregate output is described by the aggregate production function, = (,). A common choice is the Cobb–Douglas production function F ( K , L ) = A K 1 − α L α {\displaystyle F(K,L)=AK^{1-\alpha }L^{\alpha }} , but generally, any production function satisfying the Inada conditions is ...
Consider for example the case where the isoquant is globally nonconvex, and the isocost curve is linear. In this case the minimum cost mix of inputs will be a corner solution, and include only one input (for example either input A or input B). The choice of which input to use will depend on the relative prices.