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If the price of grapefruit rises, the substitution effect due to the price change will cause
Retained Earnings
The portion of a company's profits that is not distributed as dividends to shareholders but is kept for reinvestment in the business or to pay debt.
Balance Sheet
Financial report presenting the total assets, liabilities, and equity of a company at a certain date, used to assess its financial stability and operational efficiency.
Assets
Assets are resources owned by a company that have economic value and can be used to meet debts, commit to investments, or generate income.
Liabilities
Future sacrifices of economic benefits that the entity is presently obliged to make to other entities as a result of past transactions or events.
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