In a competitive equilibrium, no matter how different their preferences may be, no two people with the same income will envy each other's consumption bundles.

Competitive Equilibrium

A state in a market where supply equals demand, and no economic agent has the incentive to change their behavior, leading to an efficient allocation of resources.

Consumption Bundles

A combination of various goods and services that an individual consumes to derive satisfaction or utility.

Income

The amount of money received over a period of time, typically as payment for work, goods, or investments.