Check Whether the Set and the Operation Form a Group

question 85

Short Answer

Check whether the set and the operation form a group. Answer yes or no.
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​Ω for +

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Definitions:

Price of X

The monetary value or cost assigned to a good or service denoted by "X."

Price of Y

Refers to the cost assigned to a good or service denoted by the variable "Y."

Bundle

A combination or collection of goods or services that is considered as a single unit by consumers or businesses.

Cobb-Douglas Utility

A specific form of utility function used in economics to represent preferences of consumers, characterized by a functional form that is a particular type of product of goods' amounts raised to various powers.