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Approximate 1 MB = 2 1MB=2201 \mathrm { MB } = 2 ^ { 20 }

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Approximate 1 MB = 2 1MB=2201 \mathrm { MB } = 2 ^ { 20 } bytes as 1,000,000 bytes. Find the absolute error and relative error associated with this approximation. If necessary, round the
RE: ___________

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Definitions:

Consumer's Level

Refers to the consumption patterns, preferences, and purchasing power of individuals or households within an economy.

Budget Line

A graphical depiction of all possible combinations of goods a consumer can afford with a given budget, at fixed prices.

Slope

The measure of the steepness or incline of a line, reflecting the rate of change from one point on the line to another.

Maximizing Utility

The economic principle that individuals seek to obtain the highest level of satisfaction or benefit from their consumption choices.

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