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final dollar
When the budget is depleted and the ________ spent on each product produces the same marginal utility, consumer equilibrium has been reached.
Pizza
________ and movie rentals are examples of products.
Law of declining marginal value
the smaller the marginal value of each additional unit consumed
Diminishing marginal utility
phenomenon of decreasing marginal utility
Consumer equilibrium
MUp/Pp = MUm/ Pm
