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shouldn't credits be removed?
So how does MRS relate to relative price of goods ? are they the same ?
I was wondering if anyone new about a .mrs file, a encrypted compression file. Kind of like a .rar file.
why are all the math functions not showing up in a web browser? —Preceding unsigned comment added by 76.181.29.146 ( talk) 05:32, 30 September 2008 (UTC)
If MRS rises of good x for good y, what effect does this have on real wage, employment and output? and can this explain business cycles?
This article completely ignore that the mathematical operations involved might be forbidden. An utility function, as well as a production function might be "non-smooth" (for example non-differentiable, even non-continuous). In this case, what does the formulas become? What would be the economic interpretation of such situations? For example,
U(x)=(u1 for x<=x1 and u2 for x>x1)
shows that at x1 we have a point of discontinuity
Also, for a production function of the type
F(x,y)=min{x/a,y/b}
we have non-differentiability points (for example the point (a,b))
So, in these situations, what becomes notions like MRS, TRS and elasticity of substitution?
The functions usually used to describe the production processes are inherited from econometrics, not from accurate modelling of the production process; the economic definition suggests that the production function is the result of an optimisation process... so, an intrinsic non-smooth character.
Cristiann 23:17, 4 November 2006 (UTC)
Shouldn't MRSxy=MUy/MUx? instead of the inverse which is in the article? 128.86.148.253 ( talk) 15:04, 10 November 2013 (UTC)
![]() | This article is rated C-class on Wikipedia's
content assessment scale. It is of interest to the following WikiProjects: | ||||||||||
|
shouldn't credits be removed?
So how does MRS relate to relative price of goods ? are they the same ?
I was wondering if anyone new about a .mrs file, a encrypted compression file. Kind of like a .rar file.
why are all the math functions not showing up in a web browser? —Preceding unsigned comment added by 76.181.29.146 ( talk) 05:32, 30 September 2008 (UTC)
If MRS rises of good x for good y, what effect does this have on real wage, employment and output? and can this explain business cycles?
This article completely ignore that the mathematical operations involved might be forbidden. An utility function, as well as a production function might be "non-smooth" (for example non-differentiable, even non-continuous). In this case, what does the formulas become? What would be the economic interpretation of such situations? For example,
U(x)=(u1 for x<=x1 and u2 for x>x1)
shows that at x1 we have a point of discontinuity
Also, for a production function of the type
F(x,y)=min{x/a,y/b}
we have non-differentiability points (for example the point (a,b))
So, in these situations, what becomes notions like MRS, TRS and elasticity of substitution?
The functions usually used to describe the production processes are inherited from econometrics, not from accurate modelling of the production process; the economic definition suggests that the production function is the result of an optimisation process... so, an intrinsic non-smooth character.
Cristiann 23:17, 4 November 2006 (UTC)
Shouldn't MRSxy=MUy/MUx? instead of the inverse which is in the article? 128.86.148.253 ( talk) 15:04, 10 November 2013 (UTC)