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Inferior Good
A type of good for which demand decreases as the income of the consumer increases, in contrast to a normal good.
Indifference Curves
A graph showing different bundles of goods between which a consumer is indifferent.
Utility Levels
Measures of satisfaction or happiness that consumers derive from consuming goods and services.
Indifference Curve
A graph representing different bundles of goods between which a consumer is indifferent, showing preferences.
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