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Alvin's preferences for good X and good Y are shown in the diagram below. Figure 3.1
-Based on Figure 3.1, it can be inferred that:
Racial Groups
Categories of people who are identified or classify themselves based on physical characteristics, ancestry, or social identity.
Advertisers
Entities that promote products, services, or ideas to potential consumers through various media channels.
Demographic Profile
A statistical representation of the characteristics of a population, such as age, gender, income, and education levels.
Middle-Class Consumers
Refer to individuals within the socio-economic grouping characterized by moderate income levels, who are often targeted by marketers for their purchasing power.
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