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Joe worked for Harry's Fine Toys for a period of six years. In September, he left Harry's Fine Toys and went to Sam's Toy Shop, a competitor, and disclosed Harry's Christmas line of toys. What could Harry do under these circumstances?
Marginal Utility
The extra pleasure or benefit gained by a consumer from consuming one more unit of a product or service.
Utility Maximizing Rule
A principle in economics stating that to maximize satisfaction or utility, consumers allocate their expenditures so that the last unit of currency spent on each product provides the same level of marginal utility.
Budget Constraint
The limitation on the purchasing ability of a consumer based on available income and prices.
Marginal Utilities
The extra pleasure or benefit derived from consuming one more unit of a product or service.
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