The Picture
Notes:
How to Apply the Framework:
Tie each resource to an exponential cost function, based on its utilization. This goes for every resource on every machine. Sum these costs to get the overall cost for a machine.
The “marginal cost” of placing a job on a machine is the amount by which putting the job there increases the machine’s cost. In practice, we minimize the global cost by minimizing the marginal cost of job placement.
We sometimes refer to this marginal cost as the “opportunity cost,” because our cost function comes from opportunity cost theory.