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Marginal Utility
The extra utility a consumer obtains from the consumption of 1 additional unit of a good or service; equal to the change in total utility divided by the change in the quantity consumed.
Inelastic Nature
Characterizes a product or service whose demand or supply does not significantly change in response to price adjustments.
Agricultural Demand
The desire and ability to purchase agricultural products at various prices.
U.S. Farm Exports
Agricultural products produced in the United States that are sold to other countries, contributing to the U.S. economy and global food supply.
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