As a Rule,a Value Is Considered an Extreme Value If

question 160

True/False

As a rule,a value is considered an extreme value if its Z score is less than -3.

---

Definitions:

Consumer Equilibrium

A state in microeconomics where a consumer achieves the highest satisfaction possible, given their income constraints and prices of goods and services.

Prices

The amount of money required to purchase a good or service, reflecting the value placed on it by the market.

MU/P

The ratio of marginal utility (MU) to price (P), representing the additional satisfaction gained per unit of currency spent.

Less Of

A comparative term indicating a reduced quantity or degree of something.