Examlex
By the 1890s, the boundaries of most African states reflected ethnic and not colonial divisions.
Marginal Utility
The added utility or pleasure derived by a consumer from consuming another unit of a good or service.
Additional Satisfaction
The joy or utility gained from consuming one more unit of a good or service.
Diminishing Rate
A principle stating that as one factor of production increases, while others stay constant, the resulting increase in output will eventually decrease.
Total Utility
The entire pleasure derived from using a certain total volume of a good or service.
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