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» Economics » Management economics » Topics begins with E » Extremum principle


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The general extremum principle is beside the two classical components (maximum principle, minimum principle) a further component of the economic principle. In it both maximum principle, as well as minimum principle are used. Neither expenditure, nor yield are first fixed thereby. A goal is it to create as favorable a relationship between expenditure and yield as possible. This succeeds then only if the expenditure is actually minimized and the yield to maximize at the same time is tried.


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