Examlex
You check your cell phone repeatedly for a message from someone you're interested in dating. It's impossible to know in advance how many times you need to check before the message arrives (assuming it even does!) , therefore your checking behavior is maintained according to a __________.
Indifference Curves
Indifference curves are graphical representations in microeconomics, showing combinations of two goods between which a consumer is indifferent, reflecting preferences.
Formula
A mathematical expression that calculates or describes a relationship among different variables.
Marginal Rate
The rate at which one variable changes as another variable changes marginally or slightly.
Substitution
The economic principle of replacing one input or good for another due to changes in prices or preferences.
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