$\mathbf { u } = \left( - \frac { 1 } { 2 } , 2 \right\rangle$

question 64

True/False

$\mathbf { u } = \left( - \frac { 1 } { 2 } , 2 \right\rangle$ is orthogonal to $\mathbf { v } = \left( - 2 , \frac { 1 } { 2 } \right)$

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Definitions:

Marginal Utility

The additional satisfaction or utility that a consumer gains from consuming one more unit of a good or service.

Income Distribution

The way in which total income is shared among individuals or groups within an economy.

Utilitarians

A group of philosophers who believe that the best action is the one that maximizes utility, often defined as the well-being of the greatest number of people.

Liberals

A political ideology emphasizing the importance of individual liberties, democracy, and supporting social and economic interventions to promote social justice.