Decide Which of the 5 Properties of a Commutative Group

question 55

Multiple Choice

Decide which of the 5 properties of a commutative group (closure, identity, inverse, associative, commutative) hold for
the given system.
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• A) Closure and identity only
• B) Closure, identity, and inverse only
• C) Closure only
• D) Closure, identity, inverse, and associative only

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Definitions:

Good Produces

The output or products manufactured or produced by a business, industry, or economy.

VMPL

The Value of Marginal Product of Labor, which represents the additional value created by employing one more unit of labor, assuming other factors remain constant.

Wage Rate

The amount of compensation a worker receives per unit of time or output.

Labor Demand Curve

A graphical representation that shows the relationship between the quantity of labor demanded by firms and the wage rate.