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The following graph shows pepper prices throughout a 12-month period. Suppose you made a new graph of the same data, where the maximum value on the Y-axis was changed from 5.0 to 10.0.(Assume everything else stays the same.) Your new graph would appear to have ____ variability in pepper prices compared to the original graph shown above.
Utility Function
A representation in economics that shows the relationship between the utility (satisfaction) individuals receive from consuming goods and services and different consumption bundles.
Consumption
The action of using goods and services to satisfy needs or desires.
Income
Receipts from labor or investments, typically disbursed at regular intervals.
Consumption
The process by which goods and services are utilized to satisfy human wants, including the use of resources.
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