Examlex
Which new feature has been implemented with the NGI?
Utility Function
A mathematical representation of how consumer preferences over a set of goods and services are ranked.
Horizontal Axis
In a graphical representation, the x-axis, which typically shows the independent variable or the quantity of goods.
Vertical Axis
in a graph or chart, the y-axis which typically represents the range of values or dependent variables.
Perfect Substitute
Goods that can be completely replaced by another with no loss of utility to the consumer, such as different brands of sugar.
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