Examlex
In Microsoft Excel charts, which of the following is a function of leader lines?
Perfect Substitute
A perfect substitute is a good or service that can be used in exactly the same way as another, meaning consumers are indifferent between the two.
Utility Function
A mathematical representation that ranks individuals' preferences or satisfaction derived from consuming goods and services.
Utility Function
An economic model representing the preferences of an individual or entity over a set of goods and services by assigning a level of utility to each potential bundle of consumption.
Indifference Curve
A graph that shows a combination of two goods that give a consumer equal satisfaction and utility, demonstrating their preferences.
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