Fuzzy Logic Is a Mathematical Method of Handling _______________ Information

question 24

Short Answer

Fuzzy logic is a mathematical method of handling _______________ information.

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Definitions:

Equilibrium Price

The market price at which the supply of an item equals the quantity demanded, leading to economic stability for that item.

Equilibrium Quantity

The quantity of goods or services supplied is exactly equal to the quantity demanded at the market equilibrium price.

Supply Shifts

Changes in the availability of a product or service in the market, influenced by factors like production costs and technological advancements.

Quantity Demanded

The combined sum of a good or service that purchasers can and are eager to acquire at an established price level.