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Who wrote The Consolation of Philosophy as he awaited execution?
Prices
The amount of money required to purchase a good or service, determined by factors like supply, demand, and market competition.
Marginal Rate
The rate at which a quantity increases or decreases as a result of a unit change in another variable, often used in the context of taxation or utility.
Substitution Effect
The change in consumption patterns due to a change in the relative prices of goods, leading consumers to replace more expensive items with cheaper alternatives.
Income Effect
The change in an individual's consumption patterns due to a change in their real income, typically following a price change of goods.
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