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If the utility function (U) between food (F) and clothing (C) can be represented as U =
,the marginal rate of substitution of clothing for food will ________ if more food and less clothing are consumed.
VIE Theory
A psychological theory proposing that an individual's motivational force is determined by the perceived value of the outcome, the expectancy of achieving the outcome, and the instrumentality of the action.
Need-Based Theories
Psychological theories that focus on understanding human needs and how they influence behavior, particularly in the context of motivation.
Agency Theory
An economic theory that examines the relationship between principals (owners) and agents (executives), focusing on the conflicts of interest that may arise.
Agents
Individuals or entities authorized to act on behalf of others, in business or legal affairs, to achieve specified goals.
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