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Steam condensate is recovered by steam traps and recycled for use as boiler feed water, because of its low
Utility Maximization
The process by which individuals allocate their resources to maximize their subjective well-being or satisfaction.
Marginal Utility
The change in total satisfaction or utility that a consumer receives from consuming one additional unit of a good or service.
Utility Maximization
An economic principle suggesting that individuals or firms seek to allocate their resources in a way that maximizes their utility or satisfaction.
Income Effect
The change in an individual's consumption resulting from a change in real income, impacting purchasing power and spending habits.
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