Examlex
Use the barycentric coordinates with respect to S to determine if the point p is inside, outside, on a face, or on the edge
of conv S which is a tetrahedron.
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Barycentric coordinates:
Homothetic Preferences
A situation in consumer theory where a consumer's preference structure can be represented by a utility function that is proportionally scalable.
Engel Curve
A graphical representation that shows the relationship between income and the demand for a good or service, keeping all other factors constant.
Utility Function
A mathematical representation of how a consumer ranks different baskets of goods according to their level of satisfaction.
High Income
Refers to individuals or households that earn a significantly higher amount of money compared to the average income levels within a specific geographic region or within a particular demographic.
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