Examlex
Employees should be trained in all these areas EXCEPT ____________.
Transitive
A relation is described as transitive if, whenever it relates some A to B and B to C, it also relates A to C.
Marginal Rate of Substitution
The rate at which a consumer is willing to give up one good in exchange for another good while maintaining the same level of utility or satisfaction.
Perfect Substitutes
Two goods for which consumers are completely indifferent as to which to consume, meaning the consumption of one good can fully replace consumption of the other.
Perfect Complements
Goods that are often consumed together in fixed proportions, such that demand for one increases demand for the other.
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