Editing Gauge Theory of Economics
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<math> q = \frac{ {p_0}\cdot{q} }{ {p_0}\cdot{q_0} } q_0 + (q - \frac{ {p_0}\cdot{q} }{ {p_0}\cdot{q_0} } q_0) </math> | <math> q = \frac{ {p_0}\cdot{q} }{ {p_0}\cdot{q_0} } q_0 + (q - \frac{ {p_0}\cdot{q} }{ {p_0}\cdot{q_0} } q_0) </math> | ||
where we label the first term as Reference Basket and the second one as Barter. | where we label the first term as Along Reference Basket and the second one as Barter. | ||
Suppose that we live in a world where there are only 3 different types of items for sale: apples, berries and cherries (A, B and C respectively.) Say today we pick up our basket and go to the market. At the market, the price of each item is posted up as a number on the wall where we can see. So, we represent the prices by a <math>{1}\times{3}</math> row vector <math>p</math>. On the other hand, we buy different quantities of each item and so a <math>{3}\times{1}</math> column vector <math>q</math> denotes the list of 3 quantities for items A, B and C. | Suppose that we live in a world where there are only 3 different types of items for sale: apples, berries and cherries (A, B and C respectively.) Say today we pick up our basket and go to the market. At the market, the price of each item is posted up as a number on the wall where we can see. So, we represent the prices by a <math>{1}\times{3}</math> row vector <math>p</math>. On the other hand, we buy different quantities of each item and so a <math>{3}\times{1}</math> column vector <math>q</math> denotes the list of 3 quantities for items A, B and C. |