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Define the Law of Diminishing Marginal Utility, and explain how it helps us understand human behavior.
Bankrupt Estate
The total assets of a person or entity that are available for distribution among creditors after declaring bankruptcy.
Proof of Claim
A written statement filed by a creditor in a bankruptcy case stating the amount owed by the debtor.
Creditors
Individuals or entities that are owed money by debtors, typically arising from financial obligations like loans or credit agreements.
Funds
Financial resources, including money or other assets, that are set aside for a specific purpose or investment.
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