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Which of the following is a new area in which business crises might occur?
Utility Function
A mathematical representation of how consumers rank different bundles of goods based on the level of satisfaction (utility) obtained from them.
Price
The quantity of money presumed, demanded, or presented in exchange for a product.
Income
The total earnings obtained by an individual or entity from various sources, including work, investments, and transfers, over a specific period.
Budget Line
A visual schematic of all possible pairings of two items that are purchasable with a predetermined budget at stable prices.
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