Examlex
The proportion of area under the normal curve that is directly above a score is the _____ of the score.The percentage of the normal curve to the left of a score is the _____ of the score.
Utility Function
A utility function is an economic concept that models an individual's preference ordering over a set of goods or outcomes, representing satisfaction or happiness.
Edgeworth Box
A diagram used in microeconomics to show the distribution of resources or outcomes in a two-person (or two-good) economy, illustrating potential areas of mutual benefit through trade.
Pareto Optimal
A situation in the allocation of resources where it's not feasible to benefit one person without harming another.
Utility Function
A mathematical representation that assigns a numerical value to different bundles of goods, indicating the level of satisfaction or happiness the consumer derives from their consumption.
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