Examlex
Parity checking for error detection is most reliable for checking communications using high data rates.
Rational Consumer
An individual who seeks to maximize their utility or satisfaction from consumption under their budget constraints.
Utility Maximization
A principle in economics that suggests individuals or firms seek to allocate their resources in a way that maximizes their satisfaction or utility.
Marginal Utility
The additional satisfaction or benefit a consumer receives from consuming an additional unit of a good or service.
Demand Curve
is a graphical representation that shows the relationship between the price of a good and the quantity of that good that consumers are willing to purchase.
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