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  • Hmm, should I get KFC or KamWah?
  • I don't have a lot of money, and I want to buy a snack as well.
  • I'm going to get KFC because it is cheaper, tastes better and is ready faster.
  • Consumer Choice
  • Wow! this KFC tastes good! Should I get more?
  • Actually, I do not want anymore KFC, I am sick of it
  • Now that I think about it, I did not get my money's worth from that box of KFC because I am still hungry.
  • Marginal Utility Per Dollar
  • The marginal utility per dollar spent is the is the marginal utility obtained from the last unit of good consumed, divided by the price of the good.
  • The Law of Diminishing Marginal Utility
  • states that all else equal as consumption increases the marginal utility derived from each additional unit declines.
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