Definitions from the Web
Utility-Maximizing
Description:
The term "utility-maximizing" refers to the concept of making choices or decisions aimed at achieving the highest possible level of satisfaction, or utility, from available options. The principle of utility-maximization assumes that individuals tend to make rational decisions by evaluating the potential benefits and costs associated with each option.
Sample Sentences:
- John is a utility-maximizing consumer who carefully analyzes prices and features before making a purchase.
- By considering the long-term consequences, Lisa always strives to make utility-maximizing decisions for her business.
- The government implemented policies to encourage utility-maximizing behaviors among citizens.
- In economics, utility-maximizing behavior is often characterized by preferences and trade-offs.
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