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Elizabeth and Aaron had been married for six months when Elizabeth started to feel dissatisfied in their relationship. Although Aaron was a nice person and fun to be around, he didn't do any of the cooking or cleaning, despite the fact that both of them worked full-time. Elizabeth's dissatisfaction was likely due to the fact that
Utility Function
An equation representing a consumer's prioritization of various bundles of goods, thereby indicating their perceived benefit or welfare from those choices.
Consumption
The action of using up a resource or goods, often associated with the demand side of economics.
Income
Earnings received by an individual or business in exchange for work, services, or investments, typically measured over a certain period of time.
Pareto Efficient
An allocation of resources in which it is impossible to make any one individual better off without making at least one individual worse off.
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