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If the results of a correlational study were reported as r(26) = -.53, p < .05, then which of the following statements is true?
Consumer's Income
The total amount of money earned by a consumer, influencing their purchasing power and spending behavior.
Equilibrium
A state of balance or stability within a system where opposing forces or influences are equal and cancel each other out.
Marginal Utility
The supplementary satisfaction or advantage received from consuming one more unit of a good or service.
Utility Maximization
An economic principle that suggests individuals seek to achieve the highest level of satisfaction possible with their available resources.
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