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Provide an appropriate response.
-Consider the matrix
Without using a calculator, determine whether exists. Explain your reasoning.
Numeraire
A standard unit of account in economic modeling used to measure relative prices.
Spaghetti Consumption
The amount or rate at which individuals or populations eat spaghetti, often studied in terms of dietary habits or economic factors.
Utility Function
A mathematical representation that defines individual preferences for consumption bundles by assigning a utility value to each bundle.
Consumption
The action of using up a good or service, typically by households or individuals, affecting economic analyses of demand and spending behaviors.
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