Examlex
In the U.S.,one's SAT score may be used is a "proxy" measure of one's social class.What does this mean?
Optimal Consumption
The point at which a consumer maximizes their satisfaction or utility from consumption under their budget constraints.
Marginal Utility
Marginal utility is the additional satisfaction or utility that a consumer receives from consuming one more unit of a good or service.
Dollar Spent
A unit of expenditure, often used to discuss the impact or value of spending in terms of economic activity or investment.
Marginal Utility
The increase in satisfaction or useful value obtained from the consumption of yet another unit of a good or service.
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