Determine Whether the Given Set Is the Power Set of Some

question 85

Short Answer

determine whether the given set is the power set of some set. If the set is a power set, give
the set of which it is a power set.
- $$\{ \varnothing , \{ a \} \}$$

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Definitions:

Diminishing Marginal Utility

The principle that as a person consumes more of a good, the satisfaction gained from consuming an additional unit decreases.

Comparative Advantage

The ability to produce a good at a lower opportunity cost than others can produce it. Relative costs determine comparative advantage.

Marginal Utility

The additional satisfaction or benefit a consumer receives from consuming one more unit of a good or service.

Consumed

The act of using up a good or service, thus removing it from the market and contributing to economic activity.