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The following questions refer to the description below.
Terry catches a ray-finned fish from the ocean and notices that, attached to its flank, there is an equally long, snakelike organism. The attached organism has no external segmentation, no scales, a round mouth surrounded by a sucker and two small eyes. Terry thinks it might be a marine leech, a hagfish, or a lamprey.
-The snakelike organism turned out to be a hagfish. Consequently, why should Terry throw the fish he caught overboard, rather than having it for dinner?
Utility-Maximizing
The process by which individuals choose consumption bundles that will give them the greatest amount of satisfaction or utility.
Diminishing Marginal Utility
The decrease in satisfaction or usefulness as additional units of a product are consumed.
Staples
Basic or essential food items or goods that are widely used and regularly consumed by households.
Paper Clips
Tiny segments of twisted wire or plastic designed to keep pages of paper attached.
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