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Exhibit 4-2
Newton approximated motion in a circle as a series of linear motions, as in the polygon below. Assume that the particle moves at constant speed vA from A to B, and at constant speed vB from B to C.
Use this exhibit to answer the following question(s) .
-Refer to Exhibit 4-2. The direction of the change in velocity, , at point B, is shown by the arrow in
Pareto Optimal Allocation
An economic allocation where it is impossible to make any one individual better off without making at least one individual worse off.
Utility Function
A mathematical representation that assigns a level of utility or satisfaction to various combinations of goods and services consumed by an individual or society.
Consumers
Individuals or entities that use or consume goods and services produced within an economy.
Endowments
The resources or assets that are provided to individuals or institutions which can generate income or have intrinsic value.
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