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What is hedonism?
Apples
Edible fruits from the apple tree, used in various cuisines and known for their health benefits.
Utility Function
A mathematical representation in economics that describes how different goods or bundles of goods satisfy a consumer's needs and preferences.
Budget Constraint
An economic model representing all the combinations of goods and services a consumer can afford, given their income and the prices of goods.
Income
The financial gain or money received by an individual or household from various sources like work, investments, or transfers, over a period of time.
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