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In a brief essay, compare and contrast the use of pay ranges with broadbanding.
Normal Good
A good whose demand increases as consumers' income rises, holding all other factors constant.
Students' Incomes
The earnings received by students from part-time jobs, stipends, or scholarships, contributing to their financial support.
Demand
The amount of a product or service that buyers are ready and can afford to buy at different price points within a specified time frame.
Demand Curve
A graphical representation showing the relationship between the price of a good and the quantity demanded by consumers at those prices.
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