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Table 6.2 Table 6.2 above shows Keira's utility from soup and sandwiches.The price of soup is $2 per cup and the price of a sandwich is $3.Keira has $18 to spend on these two goods.
-Refer to Table 6.2.Suppose Keira's income increases from $18 to $23 but prices have not changed.Her utility maximising bundle is now
Trade Custom
Established practices and patterns of behavior that are widely accepted within a particular industry.
Contract
A contract between two or more entities that is recognized by law and entails shared responsibilities.
Merchantable
A term that describes goods of a quality that are fit for sale or suitable for a particular purpose.
Bar of Soap
A solid piece of cleansing substance used for personal hygiene, typically formed into a rectangular shape.
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