Examlex
What were the three key economic policies comprising the Reagan Revolution?
Marginal Utilities
The increased happiness or advantage gained by a consumer from consuming an extra unit of a good or service.
Maximum Utility
The greatest level of satisfaction or benefit that a consumer can obtain from consuming goods and services.
Pocket Money
A small amount of money given to children by parents as an allowance or for completing tasks, which can be used for personal expenses.
MU y/ Pᵧ
The ratio of the marginal utility of good Y (MUy) to its price (Pᵧ), indicating the additional satisfaction per unit of currency spent.
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