Examlex
Which of the following was reported by the National Center for Education Statistics?
Total Utility
The complete pleasure or advantage a customer gets from using a certain amount of products or services.
Rational Consumer
An economic concept of a consumer who seeks to maximize utility or satisfaction from goods and services within their budget constraints.
Equilibrium
The state in which market supply and demand balance each other, and as a result, prices become stable.
Maximum Utility
The highest level of satisfaction or benefit that a consumer can obtain from the consumption of goods and services within the constraints of their income and prices.
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