Examlex
What are the different types of depreciation? What are the advantages and disadvantages of each?
Normal Goods
Goods for which demand increases when consumers' income increases and falls when income decreases, all else being equal.
Consumption Bundle
A combination of various goods and services that an individual consumes.
Cappuccino
A popular coffee drink made with equal parts espresso, steamed milk, and frothed milk.
Optimal Consumption Bundle
The combination of goods and services that maximizes a consumer's utility, given their budget constraint and the prices of goods and services.
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