Examlex
Bonds are sold at face value when the contract rate is equal to the market rate of interest.
Hypothetical Consumer
A theoretical or imagined individual used in economic models to predict behaviors in market scenarios.
Utility-Maximizing
The principle or practice of selecting goods and services for consumption to achieve the highest level of overall satisfaction or happiness.
Marginal Utility
The boost in satisfaction or usefulness experienced from consuming an additional unit of a good or service.
Hypothetical Consumer
An assumed average consumer used in economic and marketing models to predict the behavior of consumer populations.
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