Combination
Definition
A mixture or assortment made up of different elements, in this case referring to the mix of skirts and blouses Jennifer should purchase.
Analogy
Think of a combination like a pizza with different toppings. Just as you can choose various toppings to create your perfect pizza, you can choose different quantities of skirts and blouses to maximize your utility.
Related terms
Optimal Combination: The mix of goods that maximizes utility given certain constraints.
Substitution Effect: When the price or availability of one good leads consumers to substitute it for another good.
Complementary Goods: Goods that are consumed together because they enhance each other's utility (e.g., peanut butter and jelly).
"Combination" appears in:
Subjects (1)
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