Examlex
_____ is an individual's share of the cost on a claim with the insurance provider paying the rest.
Utility-maximizing
The economic principle whereby consumers adjust their consumption of goods and services to achieve the highest level of satisfaction or utility.
Downward-sloping
Downward-sloping describes a curve or line on a graph that exhibits a decline from left to right, often used to illustrate decreasing prices or quantities in economics.
Demand Curve
A graphical representation showing the relationship between the price of a good and the quantity demanded by consumers at various prices, typically downward sloping.
Marginal Utility
The shift in happiness or benefit a person receives from using one more unit of a particular product or service.
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