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When total utility is at a maximum, marginal utility is zero.
Merchant
An individual or company engaged in the wholesale or retail sale of goods, services, or commodities for profit.
Carrier
In telecommunications, an entity that provides services for transmitting data and communications; in transportation, a company responsible for transporting goods or passengers.
FOB
Stands for Free On Board, a term used in international shipping indicating that the seller bears the cost of loading goods onto a shipping vessel, while the buyer pays for transportation and insurance.
Shipment Contract
A sales agreement where the seller is obligated to send the goods to a specific destination, and the risk of loss passes to the buyer when the goods are delivered to the carrier.
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