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Indifference Curves
In consumer theory, a graph showing combinations of goods or services among which a consumer is indifferent, reflecting preferences.
Optimum
The condition or outcome that is most favorable or efficient under the given circumstances.
Budget Constraint
The limitation on the consumption bundles that a consumer can afford based on their income and the prices of goods and services.
Indifference Curves
Graphical representations in economics showing different combinations of goods that give a consumer equal satisfaction and utility.
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