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(fLK (fK) - fLfKK) /fK2 dK + (fLLfK - fLfKL)/fK2 dL
Then divide through by dL, using the fact that dK/dL = -fL/fK along an isoquant, and
(f2LfKK + f2KfLL-2 fKfLfLK ) /(fK)3
Observe that the above condition is negative if th
The power of steam was initially used by Richard Trevithick for running carriages on the roads.
Later in 1804, he became the first person to utilize steam power to run locomotives on the rail
track. Later, George Stephenson, an engineer in the mining indu
The atmospheric engine worked on the principle of creating a partial vacuum by condensing
steam under a piston, within a cylinder. It was largely used for pumping out water from the
mines. Later on, James Watt improvised on the engine, thus, making it tec
The water frame was a spinning frame that worked with the use of water. It provided more
power to the spinning frame than manually operated ones. Hence, not only did it reduce the
amount of labor required, but it also increased the spindle count, and prov
The invention of the reaper machine made it easy for farmers to reap their crop. The reaper was
able to do the work of five men alone, thus, making the process cheaper and less laborintensive. Thus, manual work was eventually replaced by machines.
The invention of the power loom was a great breakthrough in the weaving industry. It was a
mechanized loom that used a rotating shaft for power transmission. The power loom used water
as the source of power instead of steam, thus, making the weaving proce
3. Appendix: Separable Utility and the Grouping of Goods. One shortcoming of general utility
theory is that it says relatively little about demand relationships between goods. Other than the
result that net substitution effects are symmetric, virtually an
But this desire may have to wait to be satisfied by a second expedition with a dedicated
drill ship, the Joides Resolution. The JR can bore hundreds of metres into the seabed,
increasing the chances of capturing an unabridged view of the past. A firm book
MeBo's drill cores are now back in Bremen. A week ago, the cylindrical liners containing
some 60m of ocean-floor material were being X-rayed at a local hospital to precisely
determine their internal structure. And in the past few days, the task began of s
The paper said this investigation had centred on one former CIA operative but there
was not enough evidence to arrest him. He now lives in another Asian country.
In 2012, an official at China's security ministry was arrested on suspicion of spying for
However, others were somewhat worried that overtly trying to force the issue might be
the wrong approach, given the temperamental nature of the current US president.
"I think pressure may well be the wrong tactic right now," said Elliot Diringer, a Clinto
The new White House, in case you missed it, takes a very different view on climate
change to a majority of countries in the world.
The Donald Trump-era perspective is that climate change is essentially an exaggerated
threat, that coal, oil and gas are tre
In my experience, "Japanese corporate culture" is often used as a scapegoat for a
whole raft of business problems. As a consultant, I often hear CEOs in Japan,
Japanese and non-Japanese, whether running Japanese companies or nonJapanese companies, blame s
1. The smarter way: Some teams get help from technologies like
telescopic conveyors, which can stretch inside the containers for faster
and easier unloading. Man-lifters also make it easy for the teams to
reach shipments at the top of tall containers. As
Arsenal need the spending power of a billionaire such as Alisher Usmanov in
order to move to the next level, says Gunners legend Ian Wright.
Uzbek-born Russian Usmanov has made a 1bn bid to take full control of the Gunners,
but majority shareholder Stan K
His travel ban, in the name of protecting the US against terrorism, also specifically
targeted all Muslim-majority countries, a move that was derided by Muslims
everywhere, including in the Middle East.
That ban was the work of Miller, a 31-year-old aide
Despite a growing shift towards protectionism in Europe and America, public
policies in Asian countries continue to embrace greater globalization.
Greater global connectedness often goes together with higher levels of
innovation and economic productivity,
Still, another source says Obama would "take his call and try to help" if Trump were in a
jam and needed advice.
However, the story says the bulk of the Obamas' time is spent focusing on the Obama
Presidential Center, to break ground in Chicago in 2018, a
Whatever we call it, this is Chinese President Xi Jinping's pet project, launched in
2013. Xi will host a BRI summit in Beijing on May 14 and 15 amid great fanfare
about trade and infrastructure achievements and prospects. But what is the BRI,
and is it a