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Summarize the political ideas of Hobbes and Locke.What are the main differences in their views of the state? Are there any similarities?
Marginal Utility
The additional satisfaction or utility gained from consuming an extra unit of a good or service.
Total Utility
The overall satisfaction or benefit a consumer receives from consuming a certain quantity of a good or service.
Marginal Utility
The additional satisfaction or benefit gained from consuming one more unit of a good or service.
Money Income
The total amount of monetary earnings or receipts a person or household receives within a specific period.
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