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A nearsighted person cannot see objects clearly beyond 70 cm (the far point) .If the patient has no astigmatism and contact lenses are prescribed,what is the power of the lens required to correct the patient's vision?
Initial Endowment
The initial distribution of income, wealth, or resources among individuals or groups in an economy.
Relative Prices
The price of one good or service compared to another, often indicating their opportunity cost or trade-off.
Utility Function
An economic concept that quantifies an individual's satisfaction or happiness, derived from consuming goods and services, represented through a formula.
Indifference Curves
A graph representing different bundles of goods between which a consumer is indifferent, showing the combinations that yield the same level of utility to the consumer.
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