Examlex
Finding an element in a binary search tree always requires O(log2 n) comparisons.
Loss of Value
The decrease in worth of an asset or investment over time, often due to market fluctuations or the asset's deterioration.
Total Utility
The overall satisfaction or happiness a consumer derives from consuming a certain quantity of a good or service.
Marginal Utility
is the added satisfaction or benefit a consumer gets from consuming one additional unit of a good or service.
Utility-Maximizing Rule
The principle that to obtain the greatest total utility, a consumer should allocate money income so that the last dollar spent on each good or service yields the same marginal utility (MU). For two goods X and Y, with prices Px and Py, total utility will be maximized by purchasing the amounts of X and Y such that MUx/Px = MUy/Py for the last dollar spent on each good.
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