Exterior Calculus: Economic Profit Dynamics
Abstract:A mathematical model for the Dynamics of Economic
Profit is constructed by proposing a characteristic differential oneform
for this dynamics (analogous to the action in Hamiltonian
dynamics). After processing this form with exterior calculus, a pair of
characteristic differential equations is generated and solved for the
rate of change of profit P as a function of revenue R (t) and cost C (t).
By contracting the characteristic differential one-form with a vortex
vector, the Lagrangian is obtained for the Dynamics of Economic
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