The Greatest Integer Function Is Defined by , Where

question 6

Essay

The greatest integer function is defined by , where is the unique integer such that .
The graph of is shown in the figure.
A) For which values of does exist?
B) For which values of does exist?
C) For which values of does exist?

• A) For which values of does exist?
• B) For which values of does exist?
• C) For which values of does exist?

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Definitions:

Substitution Effect

That part of an increase (decrease) in amount consumed that is the result of a good being cheaper (more expensive) in relation to other goods because of a reduction (increase) in price.

Income Effect

The change in consumption resulting from a change in real income, typically due to a price change of goods or services.

Marginal Satisfaction

The change in satisfaction or utility that a consumer experiences from consuming an additional unit of a good or service.

Utility-Maximizing

The economic principle that consumers choose combinations of goods and services to maximize their satisfaction or utility under budget constraints.