Laffer curve as provided by supply-side economics. Although the simplified Laffer curve is usually illustrated as a straightforward symmetrical and continuous bell-shaped curve, when in reality the bell-shaped curve may be skewed or lop-sided to either side of the 'maximum' shown in the simplified version of the Laffer curve. Within the reality of complex and sudden changes to tax policy over time, the response of tax revenue to tax rates may vary dramatically and is not necessarily even continuous over time, when for example new legislation is enacted which abruptly changes tax revue expectations. Laffer explains the model in terms of two
Optimal foraging theory shown as a curve of energy gain per time spent in a patch (Figure 3). The curve starts off with a steep slope and gradually levels off as prey becomes harder to find. Another important cost to consider is the traveling time between different patches and the nesting site. An animal loses foraging time while it travels and expends energy through its locomotion. In this model, the currency being optimized is usually net energy gain per unit time. The constraints are the travel time and the shape of the curve of diminishing returns. Graphically, the currency (net energy gain per