What Are the Conditions That Lead to Coexistence in the Lotka-Volterra

question 16

Short Answer

What are the conditions that lead to coexistence in the Lotka-Volterra model?

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Definitions:

Explicit Costs

Direct, out-of-pocket expenses incurred in conducting business, such as wages, rent, and materials.

Economic Profit

The profit from business activities minus both the explicit and implicit costs, including opportunity costs.

Accounting Profit

The net income of a business as calculated by subtracting total expenses from total revenues, following standard accounting principles.

Marginal Costs

The additional expense incurred from the creation of one extra unit of a product, essential in economic decision-making.