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As an infant,Liz never liked change,but if you introduce new things gradually,she will eventually accept them without too much fuss.Liz is most likely __________.
Optimal Consumption Rule
A guideline suggesting that to maximize utility, consumers should allocate their budget in a way that the last dollar spent on each good or service yields the same level of marginal utility.
Marginal Utility
The extra gratification or advantage a person receives by consuming an additional unit of a specific good or service.
Marginal Utilities
The extra pleasure or benefit a consumer gets from purchasing and using an additional unit of a product or service.
Utility-Maximizing
A principle in economics where consumers aim to achieve the highest level of satisfaction with their choices, subject to their income and the prices of goods and services.
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