Examlex
If a good has a perfectly inelastic short-run supply curve, an increase in demand will:
Indifference Curve
A graph showing different combinations of two goods that provide the same level of utility or satisfaction to a consumer.
Utility
In economics, a measure of satisfaction, usefulness or value that an individual gains from consuming goods and services.
Consumption Bundle
A combination of goods and services selected by a consumer for personal use.
T-Shirts
A basic item of clothing characterized by short sleeves, generally made of cotton, and lacking a collar.
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