Question

Identify and explain the concept from the given illustration:

Ankit refused to eat the fourth chapati after eating three chapatis.

Answer 1

• Identified concept: Point of satiety of a rational consumer.
• Explanation of concept: When different units of a commodity are consumed quickly after one another, want intensity decreases and satisfaction rises. The customer's needs are completely met at that moment. We refer to this as the "point of satiety." After reaching the point of fullness, a rational consumer declines to consume the subsequent unit of consumption.