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Although Clarence knows little about politics and does not have many strongly held views on political issues,he responds to a variety of telephone survey questions about current political events to be polite to the interviewer.Clarence's survey responses are ____________________.
Utility Function
A mathematical representation in economics that quantifies the satisfaction or happiness a consumer derives from consuming goods and services.
Tape Recorder
An electronic device used for recording sound on magnetic tape and subsequently playing back the recorded audio.
Tapes
Are thin strips of material, traditionally magnetic, used for recording sound, images, or data, though often supplanted by digital media.
Demand Functions
An equation that illustates the relationship between the price of a product and the quantity demanded by consumers.
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