Linear elasticity

In order to study the relationship between the price and demand of a product I had to calculate the “price elasticity of demand”. I also studied the relationship between the revenue and marginal revenue of a product to form a more in-depth answer to my question. Relationship between Supply and Demand My first step in studying the relationship between the price…

is directly proportional to that distance. Also, when the force used to compress or extend the object attached to the spring is disconnected it would go back to its original shape. Hooke’s law is the first classical example of an explanation of elasticity – which is the property of an object or material which causes it to be restored to its original shape after distortion. The phenomenon to recoil to normal shape after undergoing distortion can be called as “restoring force”. In the purview of…

Photography has been acknowledged to constitute a universal tool of communication. Its peculiarity lies in its capacity to communicate artistically in a manner that would be difficult to convey using words. In particular, photographic compositions have assumed a central place in communicating messages historically and in the contemporary period. This paper seeks to analyze the “The Professional Photographer: his work-his tools” poster that Jan Tschichild designed in 1938. The paper will develop…

who expressed the rate of return as an overall 7% gain, rather a combination of both high returns and losses. Prospect theory is based on the following five main ideas which is reference dependence, declining sensitivity, loss aversion, non-linear weighting of probabilities and susceptibility to framing effects. Prospect theory has been successfully used to explain a range of puzzles in economics,…

My person is Leonhard Euler. He was born in Basel, Switzerland, on April 15, 1707. His parents were Paul Euler and Marguerite Brucker. Euler had 2 sisters. Later in his life, he had 13 children, with his first wife Katharina Gsell, though only 5 survived to adulthood. He had 2 spouses. Salome Abigail Gsell from 1776-1783, and Katharina Gsell from 1734-1773. Leonhard was a Swiss mathematician and physicist, which helped in him being one of the founders in pure mathematics. Euler contributed to…

1) A Study of Cartel Stability: the JEC, Robert H. Porter, 1880-1886 This paper examines the model proposed by Green and Porter, which is a model of dynamic price competition under imperfect monitoring, i.e. firms encounter the problem of detecting and deterring deviation from the agreement. Firms can only observe the market price, but do not know the actual production level of another firm. Unexpected fall in prices may account for deviation from the colussive output or bad demand shock. So…

withstand while being pulled or stretched. The elastic range- The range which a material will recover its original form when a force or loading is removed. The ductile range- Range at which a material can deform under tensile stress The modulus of elasticity- tendency of an object to deform along an axis when opposing forces are applied along that axis. These properties can’t be examined with non-destructive methods, as parts of the material must be taken for…

The purpose of his study is to estimate India 's trade potential using gravity model. The dependent variable in all tests is the total trade (exports + imports). The results show that gravity equation represents the distance and income effect of elasticity of trade flows and measures the geographical factors as well as historical and cultural ties between India and its major trading partners. The results also indicated Asia-Pacific region accounts for maximum trade potential with India. Western…

Therefore, an isoquant represents a constant quantity of output. The isoquant curve is also known as an “Equal Product Curve” or “Production Indifference Curve” or Iso-Product Curve.” The above figures represent different shapes of isoquant. The Linear Isoquant(sky blue)- Assumes perfect substitutability of factors of production and a given commodity may be produced by using only capital or labor or by an infinite combination of both. The input-output isoquant (Red)- Assumes zero…

A. The IT Value Engineering Methodology (ITVEM) Model Furthermore, the systems engineering processes resulted in the ITVEM model that can be comprehended in Fig. 6. This model is sought to answer the problem above, which can improve the level of competitive advantage in IT-based firms with lower IT capital. Accordingly, this model should meet three model criteria (Ramos, Ferreira, & Barcel´o, 2012), which consist of the model reflects an original target, not all target properties are mapped…