Examlex
A false impression of how other people are thinking,feeling,or responding is known as pluralistic ignorance.
Consumer's Budget Line
A graphical representation of all possible combinations of two goods that a consumer can purchase, given their income and the prices of the goods.
Price of A
The cost assigned to a specific product or service "A", determined by various factors like production costs, supply, and demand.
Price of B
The cost required to purchase good B or the amount a consumer is expected to pay for acquiring good B.
Marginal Utilities
The added satisfaction or utility that a person receives from consuming an additional unit of a good or service.
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