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2 problems in applying Mathematics in reality
1. The law of diminishing marginal return (LDMR)
http://en.wikipedia.org/wiki/Diminishing_returns
In the short run production, keeping all other factors of production fixed, when the only variable factor x increases to a certain extent, marginal return = f(x) will become concave (i.e. f"(x)＜0). Is there any mathematical proof for this phenomenon?
2. Murphy's law
http://en.wikipedia.org/wiki/Murphy_law
It states that given sufficient time, then in terms of probability,
P(history will repeat itself) = 1
Is there any mathematical proof for this phenomenon?
http://en.wikipedia.org/wiki/Diminishing_returns
In the short run production, keeping all other factors of production fixed, when the only variable factor x increases to a certain extent, marginal return = f(x) will become concave (i.e. f"(x)＜0). Is there any mathematical proof for this phenomenon?
2. Murphy's law
http://en.wikipedia.org/wiki/Murphy_law
It states that given sufficient time, then in terms of probability,
P(history will repeat itself) = 1
Is there any mathematical proof for this phenomenon?
2
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