Partial equilibrium

A partial equilibrium is a type of economic equilibrium, where the clearance on the market of some specific goods is obtained independently from prices and quantities demanded and supplied in other markets. In other words, the prices of all substitutes and complements, as well as income levels of consumers are constant. Here the dynamic process is that prices adjust until supply equals demand. It is a powerfully simple technique that allows one to study equilibrium, efficiency and comparative statics. The stringency of the simplifying assumptions inherrent in this approach, make the model considerably more tractable, however this may produce results which while seemingly precise do not effectively model real world economic phenome

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On January 29, 2010 the Quadrennial Defense Review Report stated that a nuclear aircraft carrier would be homeported at NAS Mayport. The action will help protect the fleet against a potential terror attack, accident or natural disaster, because all east coast aircraft carriers are currently based at Naval Station Norfolk, according to the report. West coast aircraft carriers are split between Naval Station San Diego and Naval Base Kitsap in Washington state. Robert Gates, Secretary of Defense stated, "Having a single (nuclear carrier) homeport has not been considered acceptable on the west coast and should not be considered acceptable on the east coast."[5] The decision was opposed by elected officials in Virgina,[6] who would lose 3,500 sailors and their dependents, $425 million in revenue each year, and most importantly, 6,000 support jobs.[7] The Hampton Roads Chamber of Commerce estimated the loss at 11,000 jobs and $650 million per year.[8] Infrastructure changes and facility construction at Mayport are estimated to take five years and cost over half a billion dollars. The 2011 budget commits $590 million during the fiscal years from 2011-2019, so a carrier may not move to Mayport until 2019

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