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Definitions:

Marginal-Utility Schedules

Tables or graphs showing the relationship between the quantity of a good consumed and the incremental satisfaction (utility) gained from consuming each additional unit.

Utility Maximization

An economic principle where consumers attempt to get the greatest satisfaction possible from their available resources.

Demand Schedule

A table of numbers showing the amounts of a good or service buyers are willing and able to purchase at various prices over a specified period of time.

Utility Maximization

Utility Maximization is the economic principle that individuals or firms seek to achieve the highest satisfaction or benefit from their resources.