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The below figure shows the various combinations of the goods X and Y that yield different levels of utility. Figure 6.3 In Figure 6.3, if the price of one unit of good X and good Y is $30 and $20, respectively, the consumer's income is _____.
Accord
An agreement in law where two parties agree to settle a dispute by one party fulfilling a condition offered by the other.
Satisfaction
The fulfillment or discharge of an obligation such as a debt or the performance of a contract, or a feeling of fulfillment from achieving one's desires or requirements.
Debt
Money owed by one party, the debtor, to another, the creditor, typically arising from a transaction of a loan or credit.
Unilateral Contract
A contract in which one party promises to perform a certain action in response to an act of the other party.
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