Laffer curve costs). Although tax policy is often mentioned in relation to supply-side economics, supply-side economists are concerned with all impediments to the supply of goods and services and not just taxation. In their economics textbook "Principles of Economics" (7th edition), economists Karl E. Case of Wellesley College and Ray Fair of Yale University stated "The Laffer curve shows the relationship between tax rates and tax revenues. Supply-side economists use it to argue that it is possible to generate higher revenues by cutting tax rates, but evidence does not appear to support this. The lower tax rates by the Reagan administration decreased
Optimal foraging theory items that an animal should carry back to its nesting site or the optimal size of a food item that an animal should feed on. Figure 1, shows an example of how an optimal decision rule could be determined from a graphical model. The curve represents the energy gain per cost (E) for adopting foraging strategy x. Energy gain per cost is the currency being optimized. The constraints of the system determine the shape of this curve. The optimal decision rule (x*) is the strategy for which the currency, energy gain per costs, is the greatest. Optimal foraging models can