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Productive efficiency of an industry requires that all firms operate using best-practice technological and managerial processes and that there is no further reallocation that bring more output with the same inputs and the same production technology. By improving these processes, an economy or business can extend its pr...
Productive efficiency
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Productive inefficiency, with the economy operating below its production possibilities frontier, can occur because the productive inputs physical capital and labor are underutilized—that is, some capital or labor is left sitting idle—or because these inputs are allocated in inappropriate combinations to the different i...
Productive efficiency
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In microeconomic theory, the marginal rate of technical substitution (MRTS)—or technical rate of substitution (TRS)—is the amount by which the quantity of one input has to be reduced ( − Δ x 2 {\displaystyle -\Delta x_{2}} ) when one extra unit of another input is used ( Δ x 1 = 1 {\displaystyle \Delta x_{1}=1} ), so t...
Marginal rate of technical substitution
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Thus the MRTS is the absolute value of the slope of an isoquant at the point in question. When relative input usages are optimal, the marginal rate of technical substitution is equal to the relative unit costs of the inputs, and the slope of the isoquant at the chosen point equals the slope of the isocost curve (see Co...
Marginal rate of technical substitution
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In microeconomic theory, the opportunity cost of a choice is the value of the best alternative forgone where, given limited resources, a choice needs to be made between several mutually exclusive alternatives. Assuming the best choice is made, it is the "cost" incurred by not enjoying the benefit that would have been h...
Opportunity Cost
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As a representation of the relationship between scarcity and choice, the objective of opportunity cost is to ensure efficient use of scarce resources. It incorporates all associated costs of a decision, both explicit and implicit. Thus, opportunity costs are not restricted to monetary or financial costs: the real cost ...
Opportunity Cost
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In microeconomics Engel curves are used for equivalence scale calculations and related welfare comparisons, and determine properties of demand systems such as aggregability and rank. Engel curves have also been used to study how the changing industrial composition of growing economies are linked to the changes in the c...
Engel curve
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In microeconomics, a consumer's Hicksian demand function or compensated demand function for a good is his quantity demanded as part of the solution to minimizing his expenditure on all goods while delivering a fixed level of utility. Essentially, a Hicksian demand function shows how an economic agent would react to the...
Hicksian demand
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Mathematically, h ( p , u ¯ ) = arg ⁡ min x ∑ i p i x i {\displaystyle h(p,{\bar {u}})=\arg \min _{x}\sum _{i}p_{i}x_{i}} s u b j e c t t o u ( x ) ≥ u ¯ {\displaystyle {\rm {subject~to}}\ \ u(x)\geq {\bar {u}}} .where h(p,u) is the Hicksian demand function, or commodity bundle demanded, at price vector p and utility l...
Hicksian demand
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In microeconomics, a consumer's Marshallian demand function (named after Alfred Marshall) is the quantity they demand of a particular good as a function of its price, their income, and the prices of other goods, a more technical exposition of the standard demand function. It is a solution to the utility maximization pr...
Marshallian demand function
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Although Marshallian demand is in the context of partial equilibrium theory, it is sometimes called Walrasian demand as used in general equilibrium theory (named after Léon Walras). According to the utility maximization problem, there are L {\displaystyle L} commodities with price vector p {\displaystyle p} and choosab...
Marshallian demand function
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The consumer has income I {\displaystyle I} , and hence a budget set of affordable packages B ( p , I ) = { x: p ⋅ x ≤ I } , {\displaystyle B(p,I)=\{x:p\cdot x\leq I\},} where p ⋅ x = ∑ i L p i x i {\displaystyle p\cdot x=\sum _{i}^{L}p_{i}x_{i}} is the dot product of the price and quantity vectors. The consumer has a ...
Marshallian demand function
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In microeconomics, a monopoly price is set by a monopoly. A monopoly occurs when a firm lacks any viable competition and is the sole producer of the industry's product. Because a monopoly faces no competition, it has absolute market power and can set a price above the firm's marginal cost.The monopoly ensures a monopol...
Monopoly pricing
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The monopoly always considers the demand for its product as it considers what price is appropriate, such that it chooses a production supply and price combination that ensures a maximum economic profit, which is determined by ensuring that the marginal cost (determined by the firm's technical limitations that form its ...
Monopoly pricing
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Marginal revenue can be calculated as M R = P + P ′ ( Q ) ∗ Q {\displaystyle MR=P+P'(Q)*Q} , where 0 > P ′ ( Q ) {\displaystyle 0>P'(Q)} . Marginal cost (MC) relates to the firm's technical cost structure within production, and indicates the rise in total cost that must occur for an additional unit to be supplied to th...
Monopoly pricing
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In microeconomics, a production–possibility frontier (PPF), production possibility curve (PPC), or production possibility boundary (PPB) is a graphical representation showing all the possible options of output for two goods that can be produced using all factors of production, where the given resources are fully and ef...
Production possibility frontier
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By doing so, it defines productive efficiency in the context of that production set: a point on the frontier indicates efficient use of the available inputs (such as points B, D and C in the graph), a point beneath the curve (such as A) indicates inefficiency, and a point beyond the curve (such as X) indicates impossib...
Production possibility frontier
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Such a shift reflects, for instance, economic growth of an economy already operating at its full productivity (on the PPF), which means that more of both outputs can now be produced during the specified period of time without sacrificing the output of either good. Conversely, the PPF will shift inward if the labour for...
Production possibility frontier
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In microeconomics, the PPF shows the options open to an individual, household, or firm in a two-good world. By definition, each point on the curve is productively efficient, but, given the nature of market demand, some points will be more profitable than others.
Production possibility frontier
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Equilibrium for a firm will be the combination of outputs on the PPF that is most profitable.From a macroeconomic perspective, the PPF illustrates the production possibilities available to a nation or economy during a given period of time for broad categories of output. It is traditionally used to show the movement bet...
Production possibility frontier
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In microeconomics, a threshold population is the minimum number of people needed for a service to be worthwhile. In economic geography, a threshold population is the minimum number of people necessary before a particular good or service can be provided in an area. The concept is equivalent to the "range" in central pla...
Threshold population
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In microeconomics, an Engel curve describes how household expenditure on a particular good or service varies with household income. There are two varieties of Engel curves. Budget share Engel curves describe how the proportion of household income spent on a good varies with income.
Engel curve
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Alternatively, Engel curves can also describe how real expenditure varies with household income. They are named after the German statistician Ernst Engel (1821–1896), who was the first to investigate this relationship between goods expenditure and income systematically in 1857. The best-known single result from the art...
Engel curve
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In microeconomics, bandwagon effects may play out in interactions of demand and preference. The bandwagon effect arises when people's preference for a commodity increases as the number of people buying it increases. Consumers may choose their product based on others' preferences believing that it is the superior produc...
Cultural trends
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In microeconomics, consumer choice is a theory that assumes that people are rational consumers and they decide on what combinations of goods to buy based on their utility function (which goods provide them with more use/happiness) and their budget constraint (which combinations of goods they can afford to buy). Consume...
Economic consumption
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In microeconomics, consumers set their reservation price as the highest price that they are willing to pay for goods or a service, while sellers set the smallest price at which they would sell. Similarly, in finance, the reservation price—also called the indifference price—is the value at which an investor would be wil...
Reserve price
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The zone of possible agreement would be between $10 and $15. Reservation prices are commonly used in auctions, where the seller may or may not make it known what the lowest acceptable price is. Buyers—especially if by proxy—may have their own reservation price at which they are unwilling to further bid. This can be see...
Reserve price
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In microeconomics, decision rules may be approximated under the state-space approach to linearization. Under this approach, the Euler equations of the utility maximization problem are linearized around the stationary steady state. A unique solution to the resulting system of dynamic equations then is found.
Linearization
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In microeconomics, diseconomies of scale are the cost disadvantages that economic actors accrue due to an increase in organizational size or in output, resulting in production of goods and services at increased per-unit costs. The concept of diseconomies of scale is the opposite of economies of scale. In business, dise...
Diseconomies of scale
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In microeconomics, economic efficiency, depending on the context, is usually one of the following two related concepts: Allocative or Pareto efficiency: any changes made to assist one person would harm another. Productive efficiency: no additional output of one good can be obtained without decreasing the output of anot...
Economic efficiency
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In microeconomics, economies of density are cost savings resulting from spatial proximity of suppliers or providers. Typically higher population densities allow synergies in service provision leading to lower unit costs. If large economies of density exist there is an incentive for firms to concentrate and agglomerate....
Economies of density
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In microeconomics, economies of scale are the cost advantages that enterprises obtain due to their scale of operation, and are typically measured by the amount of output produced per unit of time. A decrease in cost per unit of output enables an increase in scale. At the basis of economies of scale, there may be techni...
Industrial scale
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Economies of scale apply to a variety of the organizational and business situations and at various levels, such as a production, plant or an entire enterprise. When average costs start falling as output increases, then economies of scale occur. Some economies of scale, such as capital cost of manufacturing facilities a...
Industrial scale
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The economic concept dates back to Adam Smith and the idea of obtaining larger production returns through the use of division of labor. Diseconomies of scale are the opposite. Economies of scale often have limits, such as passing the optimum design point where costs per additional unit begin to increase.
Industrial scale
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Common limits include exceeding the nearby raw material supply, such as wood in the lumber, pulp and paper industry. A common limit for a low cost per unit weight commodities is saturating the regional market, thus having to ship products uneconomic distances.
Industrial scale
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Other limits include using energy less efficiently or having a higher defect rate. Large producers are usually efficient at long runs of a product grade (a commodity) and find it costly to switch grades frequently. They will, therefore, avoid specialty grades even though they have higher margins.
Industrial scale
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Often smaller (usually older) manufacturing facilities remain viable by changing from commodity-grade production to specialty products.Economies of scale must be distinguished from economies stemming from an increase in the production of a given plant. When a plant is used below its optimal production capacity, increas...
Industrial scale
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In microeconomics, excess demand is a phenomenon where the demand for goods and services exceeds that which the firms can produce. In microeconomics, an excess demand function is a function expressing excess demand for a product—the excess of quantity demanded over quantity supplied—in terms of the product's price and ...
Excess demand function
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A product's excess supply function is the negative of the excess demand function—it is the product's supply function minus its demand function. In most cases the first derivative of excess demand with respect to price is negative, meaning that a higher price leads to lower excess demand. The price of the product is sai...
Excess demand function
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In this situation it is said that the market clears. If the price is higher than the equilibrium price, excess demand will normally be negative, meaning that there is a surplus (positive excess supply) of the product, and not all of it being offered to the marketplace is being sold. If the price is lower than the equil...
Excess demand function
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In microeconomics, for every unit of input added to a firm, the return received decreases. When a variable factor of production is put into a firm at a constant level of technology, the initial increase in this factor of production will increase output, but when it exceeds a certain limit, the increased output will dim...
Marginal revenue
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In microeconomics, joint product pricing is the firm's problem of choosing prices for joint products, which are two or more products produced from the same process or operation, each considered to be of value. Pricing for joint products is more complex than pricing for a single product. To begin with, there are two dem...
Joint product pricing
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Demand for one product could be greater than for the other. Consumers of one product could be more price elastic than consumers of the other (and therefore more sensitive to changes in the product's price). To complicate things further, both products, because they are produced jointly, share a common marginal cost curv...
Joint product pricing
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There are also complexities in the production function. Their production could be linked in the sense that they are bi-products (referred to as complements in production) or in the sense that they can be produced by the same inputs (referred to as substitutes in production). Further, production of the joint product cou...
Joint product pricing
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In microeconomics, management and international political economy, vertical integration is an arrangement in which the supply chain of a company is integrated and owned by that company. Usually each member of the supply chain produces a different product or (market-specific) service, and the products combine to satisfy...
Vertical merger
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Vertical integration and expansion is desired because it secures supplies needed by the firm to produce its product and the market needed to sell the product. Vertical integration and expansion can become undesirable when its actions become anti-competitive and impede free competition in an open marketplace. Vertical i...
Vertical merger
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In microeconomics, marginal profit is the increment to profit resulting from a unit or infinitesimal increment to the quantity of a product produced. Under the marginal approach to profit maximization, to maximize profits, a firm should continue to produce a good or service up to the point where marginal profit is zero...
Marginal profit
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In microeconomics, production is the conversion of inputs into outputs. It is an economic process that uses inputs to create a commodity or a service for exchange or direct use. Production is a flow and thus a rate of output per period of time. Distinctions include such production alternatives as for consumption (food,...
Economic theories
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Inputs used in the production process include such primary factors of production as labour services, capital (durable produced goods used in production, such as an existing factory), and land (including natural resources). Other inputs may include intermediate goods used in production of final goods, such as the steel ...
Economic theories
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Efficiency is improved if more output is generated without changing inputs. A widely accepted general standard is Pareto efficiency, which is reached when no further change can make someone better off without making someone else worse off. The production–possibility frontier (PPF) is an expository figure for representi...
Economic theories
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In the simplest case an economy can produce just two goods (say "guns" and "butter"). The PPF is a table or graph (as at the right) showing the different quantity combinations of the two goods producible with a given technology and total factor inputs, which limit feasible total output. Each point on the curve shows po...
Economic theories
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Scarcity is represented in the figure by people being willing but unable in the aggregate to consume beyond the PPF (such as at X) and by the negative slope of the curve. If production of one good increases along the curve, production of the other good decreases, an inverse relationship. This is because increasing outp...
Economic theories
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The slope of the curve at a point on it gives the trade-off between the two goods. It measures what an additional unit of one good costs in units forgone of the other good, an example of a real opportunity cost. Thus, if one more Gun costs 100 units of butter, the opportunity cost of one Gun is 100 Butter.
Economic theories
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Along the PPF, scarcity implies that choosing more of one good in the aggregate entails doing with less of the other good. Still, in a market economy, movement along the curve may indicate that the choice of the increased output is anticipated to be worth the cost to the agents. By construction, each point on the curve...
Economic theories
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A point inside the curve (as at A), is feasible but represents production inefficiency (wasteful use of inputs), in that output of one or both goods could increase by moving in a northeast direction to a point on the curve. Examples cited of such inefficiency include high unemployment during a business-cycle recession ...
Economic theories
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In microeconomics, quasiconcave utility functions imply that consumers have convex preferences. Quasiconvex functions are important also in game theory, industrial organization, and general equilibrium theory, particularly for applications of Sion's minimax theorem. Generalizing a minimax theorem of John von Neumann, S...
Quasi-convex function
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In microeconomics, search theory studies buyers or sellers who cannot instantly find a trading partner, and must therefore search for a partner prior to transacting. It involves determining the best approach to use when looking for a specific item or person in a sizable, uncharted environment. The goal of the theory is...
Searching theory
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Search theory also provides an explanation for why frictional unemployment happens as people look for jobs and corporations look for new employees. Search theory has been used primarily to explain labor market inefficiencies, but also for all forms of "buyers" and "sellers", whether products, homes or even spouses/part...
Searching theory
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The clearing price will be met quickly as supply and demand react freely. However, this does not happen in the real world. Search theory tries to explain how.
Searching theory
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Real-world transactions involve discrete quantities of goods and services, imperfect and expensive information, and possible physical or other barriers separating buyers and sellers. parties looking to conduct business, such as a potential employee and an employer, or a buyer and a seller of goods. Their search for one...
Searching theory
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These restrictions can come in the form of geographical differences, differing expectations regarding price and specifications, and slow response and negotiation times from one of the parties.Search theory has been applied in labor economics to analyze frictional unemployment resulting from job hunting by workers. In c...
Searching theory
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From a consumer's perspective, a product worth purchasing would have sufficiently high quality and be offered at a sufficiently low price. In both cases, whether a given job or product is acceptable depends on the searcher's beliefs about the alternatives available in the market. More precisely, search theory studies a...
Searching theory
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Search models illustrate how best to balance the cost of delay against the value of the option to try again. Mathematically, search models are optimal stopping problems. Macroeconomists have extended search theory by studying general equilibrium models in which one or more types of searchers interact. These macroeconom...
Searching theory
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In microeconomics, supply and demand is an economic model of price determination in a market. It postulates that, holding all else equal, in a competitive market, the unit price for a particular good, or other traded item such as labor or liquid financial assets, will vary until it settles at a point where the quantity...
Supply and Demand
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In microeconomics, the Bertrand–Edgeworth model of price-setting oligopoly looks at what happens when there is a homogeneous product (i.e. consumers want to buy from the cheapest seller) where there is a limit to the output of firms which are willing and able to sell at a particular price. This differs from the Bertran...
Bertrand–Edgeworth model
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In microeconomics, the contract curve or Pareto set is the set of points representing final allocations of two goods between two people that could occur as a result of mutually beneficial trading between those people given their initial allocations of the goods. All the points on this locus are Pareto efficient allocat...
Contract curve
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The people's initial endowments (starting allocations of the two goods) are represented by a point in the diagram; the two people will trade goods with each other until no further mutually beneficial trades are possible. The set of points that it is conceptually possible for them to stop at are the points on the contra...
Contract curve
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Any Walrasian equilibrium lies on the contract curve. As with all points that are Pareto efficient, each point on the contract curve is a point of tangency between an indifference curve of one person and an indifference curve of the other person. Thus, on the contract curve the marginal rate of substitution is the same...
Contract curve
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In microeconomics, the marginal factor cost (MFC) is the increment to total costs paid for a factor of production resulting from a one-unit increase in the amount of the factor employed. It is expressed in currency units per incremental unit of a factor of production (input), such as labor, per unit of time. In the cas...
Marginal factor cost
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Thus for any factor the MFC is the change in total amount paid for all units of that factor divided by the change in the quantity of that factor employed. A firm that wants to optimize its profits hires each factor up to the point at which its marginal factor cost equals its marginal revenue product (MFC=MRP).Marginal ...
Marginal factor cost
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In microeconomics, the property of local nonsatiation (LNS) of consumer preferences states that for any bundle of goods there is always another bundle of goods arbitrarily close that is strictly preferred to it.Formally, if X is the consumption set, then for any x ∈ X {\displaystyle x\in X} and every ε > 0 {\displaysty...
Local nonsatiation
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There is no requirement that the preferred bundle y contain more of any good – hence, some goods can be "bads" and preferences can be non-monotone. It rules out the extreme case where all goods are "bads", since the point x = 0 would then be a bliss point. Local nonsatiation can only occur either if the consumption set...
Local nonsatiation
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In microeconomics, theorists have engaged the issue of bequest from the perspective of consumption theory, in which they seek to explain the phenomenon in terms of a bequest motive.
Bequest and devise
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In microeconomics, two goods are substitutes if the products could be used for the same purpose by the consumers. That is, a consumer perceives both goods as similar or comparable, so that having more of one good causes the consumer to desire less of the other good. Contrary to complementary goods and independent goods...
Substitute good
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These types of substitutes can be referred to as close substitutes.Substitute goods are commodity which the consumer demanded to be used in place of another good. Economic theory describes two goods as being close substitutes if three conditions hold: products have the same or similar performance characteristics produc...
Substitute good
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For example, a beverage would quench a customer's thirst. A product's occasion for use describes when, where and how it is used.
Substitute good
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For example, orange juice and soft drinks are both beverages but are used by consumers in different occasions (i.e. breakfast vs during the day). Two products are in different geographic market if they are sold in different locations, it is costly to transport the goods or it is costly for consumers to travel to buy th...
Substitute good
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An example of complementary goods are cereal and milk. An example of substitute goods are tea and coffee. These two goods satisfy the three conditions: tea and coffee have similar performance characteristics (they quench a thirst), they both have similar occasions for use (in the morning) and both are usually sold in t...
Substitute good
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Some other common examples include margarine and butter, and McDonald's and Burger King. Formally, good x j {\displaystyle x_{j}} is a substitute for good x i {\displaystyle x_{i}} if when the price of x i {\displaystyle x_{i}} rises the demand for x j {\displaystyle x_{j}} rises, see figure 1. Let p i {\displaystyle p...
Substitute good
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In microeconomics, value added may be defined as the market value of aggregate output of a transformation process, minus the market value of aggregate input (or aggregate inputs) of a transformation process. One may describe value added with the help of Ulbo de Sitter's design theory for production synergies. He divide...
Add value
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Parts can be compared to timeline stages, such as first preparing the dish, then washing it, then drying it. Aspects are equated with area specialization, for example that someone takes care of the part of the counter that consists of glass, another takes care of the part that consists of plates, a third takes care of ...
Add value
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In macroeconomics, the term refers to the contribution of the factors of production (i.e. capital and labor) to raise the value of the product and increase the income of those who own the said factors. Therefore, the national value added is shared between capital and labor.Outside of business and economics, value added...
Add value
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In microelectromechanical systems (MEMS) and nanoelectromechanical systems (NEMS), the package protects the sensitive internal structures from environmental influences such as temperature, moisture, high pressure and oxidizing species. The long-term stability and reliability of the functional elements depend on the enc...
Wafer bonding
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In microelectronics, a dual in-line package (DIP or DIL) is an electronic component package with a rectangular housing and two parallel rows of electrical connecting pins. The package may be through-hole mounted to a printed circuit board (PCB) or inserted in a socket. The dual-inline format was invented by Don Forbes,...
DIP socket
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Furthermore, square and rectangular packages made it easier to route printed-circuit traces beneath the packages. A DIP is usually referred to as a DIPn, where n is the total number of pins. For example, a microcircuit package with two rows of seven vertical leads would be a DIP14.
DIP socket
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The photograph at the upper right shows three DIP14 ICs. Common packages have as few as three and as many as 64 leads.
DIP socket
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Many analog and digital integrated circuit types are available in DIP packages, as are arrays of transistors, switches, light emitting diodes, and resistors. DIP plugs for ribbon cables can be used with standard IC sockets. DIP packages are usually made from an opaque molded epoxy plastic pressed around a tin-, silver-...
DIP socket
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Some types of IC are made in ceramic DIP packages, where high temperature or high reliability is required, or where the device has an optical window to the interior of the package. Most DIP packages are secured to a PCB by inserting the pins through holes in the board and soldering them in place. Where replacement of t...
DIP socket
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Some sockets include a zero insertion force (ZIF) mechanism. Variations of the DIP package include those with only a single row of pins, e.g. a resistor array, possibly including a heat sink tab in place of the second row of pins, and types with four rows of pins, two rows, staggered, on each side of the package. DIP p...
DIP socket
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In microelectronics, a quad in-line package (QIP or QIL), is an electronic component package with a rectangular housing and four parallel rows of electrical connecting pins. The package may be through-hole mounted to a printed circuit board (PCB) or inserted in a socket. Rockwell used a QIP with 42 leads formed into st...
Quad in-line package
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The QIP design increased the spacing between solder pads without increasing package size, for two reasons: First it allowed more reliable soldering. This may seem odd today, given the far closer solder pad spacing in use now, but in the 1970s, the heyday of the QIL, bridging of neighbouring solder pads on DIP ICs was a...
Quad in-line package
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Intel and 3M developed the ceramic leadless quad in-line package (QUIP), introduced in 1979, to boost microprocessor density and economy. The ceramic leadless QUIP is not designed for surface-mount use, and requires a socket. It was used by Intel for the iAPX 432 microprocessor chip set, and by Zilog for the Z8-02 exte...
Quad in-line package
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In microfabrication, thermal oxidation is a way to produce a thin layer of oxide (usually silicon dioxide) on the surface of a wafer. The technique forces an oxidizing agent to diffuse into the wafer at high temperature and react with it. The rate of oxide growth is often predicted by the Deal–Grove model. Thermal oxid...
Thermal oxide
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In microfluidic Sanger sequencing the entire thermocycling amplification of DNA fragments as well as their separation by electrophoresis is done on a single glass wafer (approximately 10 cm in diameter) thus reducing the reagent usage as well as cost. In some instances researchers have shown that they can increase the ...
Dideoxy sequencing
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In microfluidics, capillary pumping plays an important role because the pumping action does not require external actuation power. Glass capillaries and porous media, including nitrocellulose paper and synthetic paper, can be integrated into microfluidic chips. Capillary pumping is widely used in lateral flow testing. R...
Micropump
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In microfluidics, hydrodynamic trapping is a technique for trapping very small particles in an aqueous solution for a long period of time in order to isolate particles and observe their behavior.
Hydrodynamic trapping
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In microfluidics, it is often desirable to minimize the circulating volume of fluid. Traditional pumps require a large volume of liquid external to the microfluidic circuit. This can lead to problems due to dilution of analytes and already dilute biological signalling molecules. For this reason, among others, it is des...
Peristaltic pump
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In microgravity environments, burping is frequently associated with regurgitation, known as wet burping. With reduced gravity, the stomach contents are more likely to rise up into the esophagus when the gastroesophageal sphincter is relaxed, along with the expelled air.
Wet burp
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In microgrid, energy storage is able to perform multiple functions, such as ensuring power quality, including frequency and voltage regulation, smoothing the output of renewable energy sources, providing backup power for the system and playing a crucial role in cost optimization. It includes all of chemical, electrical...
Microgrid
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In microholography, focused beams of light are used to record submicrometre-sized holograms in a photorefractive material, usually by the use of collinear beams. The writing process may use the same kinds of media that are used in other types of holographic data storage, and may use two–photon processes to form the hol...
Fluorescent Multilayer Disc