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Definition of Static and Dynamic Models. What is Static and Dynamic Models. All about Static and Dynamic Models. Explain complete details about Static and Dynamic Models. Best explanation and definition of Static and Dynamic Models. Importance and role of Static and Dynamic Models. Mechanical Engineering’s topic definitions.

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A static model is one in which the decision variables do not involve sequences of decisions over multiple periods.

A dynamic model is a model in which the decision variables do involve sequences of decisions over multiple periods. Basically, in a static model we solve a “one-shot” problem whose solutions prescribe optimal values of decision variables at all points in time.
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