In Scientific Notation,a Number Is Written as Y × 10^x,where

question 80

True/False

In scientific notation,a number is written as y × 10^x,where x can be any positive or negative number or fraction.

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Definitions:

Utility Function

An economic model that measures preferences over a set of goods and services.

Budget Constraint

An economic model that represents all the combinations of goods and services a consumer can purchase given their income and the prices of those goods and services.

Bundle

A collection of goods or services that are sold together.

Marginal Rate of Substitution

The rate at which a consumer is willing to give up some amount of one good in exchange for another good while keeping the same level of utility.