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Which is a commonly used technology for data collection?
Equivalent Variation
A monetary measure of the change in utility or satisfaction that a consumer experiences due to a change in prices, holding utility constant.
Consumption
The use of goods and services by households or individuals for personal satisfaction or need.
Utility Function
A mathematical representation of how a set of goods or services provide a level of satisfaction or utility to an individual or entity.
Compensating Variation
An economic concept representing the amount of money an individual would need to reach a level of utility as before an economic change.
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