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The statement was first proven by Claude Berge in 1959. [1] The theorem is primarily used in mathematical economics and optimal control . Statement of theorem
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In the quest to find great investments, most investors focus on earnings to gauge a company's financial strength. This is a good start, but earnings can be misleading and incomplete. To get a ...
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 ...
Executive summaries are important as a communication tool in both academia and business. For example, members of Texas A&M University's Department of Agricultural Economics observe that "An executive summary is an initial interaction between the writers of the report and their target readers: decision makers, potential customers, and/or peers ...
De gustibus non est disputandum, or de gustibus non disputandum est, is a Latin maxim meaning "In matters of taste, there can be no disputes" (literally "about tastes, it is not to be disputed"). [ 1 ] [ 2 ] The phrase is commonly rendered in English as "There is no accounting for tastes" [ 3 ] or "for taste".
Then, due to mutual comparability, the minimal element will also be the least element, and the maximal element will also be the greatest element. Thus in a totally ordered set, we can simply use the terms minimum and maximum. If a chain is finite, then it will always have a maximum and a minimum.