Examlex
The key process of a laser is
Consumer Equilibrium
A state in which a consumer has allocated their income in a way that maximizes their utility, given their budget constraint.
MU/P Ratio
The Marginal Utility to Price ratio, used in economic analysis to evaluate the satisfaction received from consuming an additional unit of a good relative to its cost.
Marginal Utility
The additional satisfaction or benefit received from consuming one more unit of a good or service.
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