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Economic Bad
Any item or service that results in a negative effect on the consumer's utility or well-being, opposite of an economic good.
Marginal Utility
The additional satisfaction or benefit received from consuming one more unit of a good or service.
Perfect Substitutes
Items or services that can replace each other without any decrease in value or enjoyment for the user.
Utility per Dollar
A metric assessing the amount of utility or satisfaction a consumer receives per dollar spent on a good or service.
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