What does “knock yourself out” mean?

Used to tell someone they may go ahead and do something freely, often casually or with mild indifference (be my guest).

How is “knock yourself out” used?

In The Mist (2007), one line is: “Those who want to stack dog food, knock yourselves out.”

The clip at the top of this page is from The Mist (2007).

Those who want to stack dog food, knock yourselves out.

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