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Laura has recently been diagnosed with multiple sclerosis.She appears to be functioning normally at present.
However,since this disease causes scar tissue to replace the myelin sheath,it will hinder the smooth transmission of her nerve impulses.
Prevailing Wage
The average wage paid to similarly employed workers in a specific region, occupation, or industry.
Marginal Utility
The supplementary benefit or satisfaction a person derives from the consumption of one more unit of a good or service.
Optimal Time Allocation
The most efficient distribution of one's time across various activities to maximize overall benefit.
Substitution Effect
The change in the quantity of a good consumed as the consumer substitutes other goods that are now relatively cheaper in place of the good that has become relatively more expensive.
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