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When Ernesto, after not swimming during the winter months, remembers how to swim with very specific strokes as soon as he is in the water, he is demonstrating the power of his:
Marginal Utility
The additional satisfaction or utility that a consumer derives from consuming one more unit of a good or service.
Income
Money that an individual or business receives in exchange for providing a good or service or through investing capital.
Utils Per Dollar
An economic concept used to measure the amount of utility or satisfaction a consumer receives per dollar spent.
Fair Insurance Policy
An insurance contract that is equitable, offering reasonable terms and conditions to all parties involved.
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