How can you explain this? Please explain in Taglish. Please give an example po na related sa topic para po mas lalong maintindihan. Thank you!

lConsumers try to maximize their utility with every item consumed based on rational choice theory. Their decisions are geared toward acquiring the most affordable items with the highest level of satisfaction. Generally, consumer behavior is based on maximizing total utility by acquiring units that enable them to gain maximum utility for the amount they spend. This is partially due to the budget constraints and the desire to achieve as much satisfaction as possible from the consumption of a product. Calculating Total Utility Maximization Each unit of a product or service has its utility, while every additional unit of consumption has its marginal utility. The total utility equation assigns base values called utils. Economists examine utils over a broad range and determine the level of satisfaction gained from a particular unit of consumption. All allocated constant unit for utils is set since there .isusactual.ssrc_.t'qr.utility ngertips: The formula below is used in calculating total utility maximization: TU = U] + MUZ + MU3... Where: TU is Total Utility U is Utility MU is Marginal Utility The total utility is equivalent to the number of utils realized from each unit of consumption. However, the theory assumes that every additional unit of consumption generates less marginal utility, which is the law of ' diminishing marginal utility. Marginal Utility Maximization Marginal utility refers to the additional satisfaction that a consumer achieves from utilizing one additional item. For example, if the utility of consuming the rst cake is ten utils and eight utils for the second cake, the marginal utility of consuming the second cake is eight utils. If two utils are assigned to the utility of the third cake, then the marginal utility of consuming the third cake is two utils. .--. 11 u.- . .- Generally, a customer will consume a product up until the marginal utility is equal to zero. That is, if the cake Consumers Defining Consumers A consumer is a person (or group) who pays to consume the goods and/or services produced by a seller (i.e., company, organization). In the field of economics, marketing and advertising, a consumer is generally defined as the one who pays to consume the goods and services produced by a seller (i.e., company, organization). A consumer can be a person (or group of people), generally categorized as an end user or target demographic for a product, good, or service. The role of a consumer is important in an economic system because the entire process of production and distribution takes place with the consumer in mind. Without consumers, the economic system would not function, as goods and services would generate no income. Consumer Rights 1. Right to safety - means right to be protected against marketing of goods and services, which are hazardous to lie and property. The purchased goods and services availed of should not only meet their immediate needs, but also fulfill long term interests. Before purchasing, consumers should insist of the quality of the products as well as on the guarantee of the products and services. They should preferably purchase quality marked products. 2. Right to Choose - means right to be assured, whenever possible of access to variety of goods and services at competitive price. In case of monopolies, it means right to be assured of satisfactory quality and service at a fair price. It also includes right to basic goods and services. This is because unrestricted right of the minority to choose can mean a denial for the majority of its fair share. This right can be better exercised in a competitive market where a variety of goods are available at competitive prices. 3. Right to be informed - means right to be informed about the quality, potency, purity, standard and price of goods so as to protect the gain unfair trade ould insist