Examlex
Along an indifference curve, the combination of 10 units of X and 1 unit of Y represents a larger total utility than the combination of 5 units of X and 5 units of Y.
Lowest Terms
The simplest form of a fraction, where the numerator and denominator are reduced to their smallest possible integers.
Percentage
A mathematical concept expressing a quantity as a fraction of 100.
Fraction
A mathematical concept where a number is represented as a part of a whole, expressed as a numerator divided by a denominator.
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