Question: 1. HOW DOES UTILITY INFLUENCE CONSUMPTION DECISIONS? 2. HOW DO CONSUMERS DETERMINE THE OPTIMAL LEVEL OF CONSUMPTION/ SATISFACTION FOR TWO GOODS GIVEN A BUDGET CONSTRAINT--DEFINED

1. HOW DOES UTILITY INFLUENCE CONSUMPTION DECISIONS? 2. HOW DO CONSUMERS DETERMINE THE OPTIMAL LEVEL OF CONSUMPTION/ SATISFACTION FOR TWO GOODS GIVEN A BUDGET CONSTRAINT--DEFINED BY INCOME AND PRICES OF BOTH GOODS? Kindly answer it thoroughly, thank you!

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