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Tom takes 20 minutes to burn a CD and 5 minutes to make a sandwich. Jerry takes 15 minutes to burn a CD and 3 minutes to make a sandwich. If Tom and Jerry trade
Certain Income
Income that is guaranteed or known, without any risk of fluctuation or loss.
Uncertain Income
Income that is not guaranteed and can vary significantly from period to period, often depending on factors like market demand or job security.
Marginal Utility
The bonus utility or pleasure experienced by someone when consuming another unit of a given good or service.
Risk-averse
A description of an individual's or entity's preference for avoiding loss over making a gain.
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