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Long after being bitten by a stray dog, Alonzo found that his fear of dogs seemed to have disappeared. To his surprise, however, when he was recently confronted by a stray dog, he experienced a sudden twinge of anxiety. This sudden anxiety best illustrates
Marginal Utility
Marginal Utility is the change in satisfaction or utility that a consumer receives from consuming one additional unit of a good or service.
Fifth Serving
A term that does not have a widely recognized definition within a general context, possibly referencing an additional or excess portion in specific contexts. NO.
Units
The basic measure or quantity of a product or service that is counted or traded in the market.
Diminishing Marginal Utility
Diminishing Marginal Utility is the principle stating that as a person increases consumption of a product, there is a decline in the marginal utility that person derives from consuming each additional unit of that product.
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