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An electron traveling toward the magnetic north with speed 400 km/s enters a region where the earth's magnetic field has the magnitude 5.0 × 10-5 T and is directed downward at 45° below horizontal. What magnitude magnetic force acts on the electron? (e = 1.60 × 10-19C)
Income Effect
The change in an individual's or economy's income and how that change will impact the quantity demanded of a good or service.
Substitution Effect
The substitution effect occurs when consumers replace pricier goods with cheaper alternatives as prices change, reflecting changes in consumption patterns due to relative price differences.
Diminishing Marginal Utility
The principle that as a person consumes more of a good, the additional satisfaction gained from consuming an additional unit of the good decreases.
Limited Budget
A financial plan that is constrained by a limited amount of resources, requiring prioritization and careful management.
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