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Pounds
A unit of weight commonly used in the British imperial and United States customary systems, equal to 16 ounces.
Optimal Consumption
The combination of goods and services that maximizes an individual's utility given their budget constraints.
Indifference Curve
A graph showing different bundles of goods between which a consumer is indifferent, that is, the consumer has no preference for one combination over another.
Price Decrease
A reduction in the price of a good or service, which can lead to an increase in quantity demanded by consumers according to the law of demand.
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