Examlex
A disclaimer of opinion is issued whenever the auditor:
Total Utility
The total satisfaction or benefit derived from consuming a particular quantity of goods or services.
Law of Diminishing Marginal Utility
An economic principle that states the additional satisfaction a consumer gets from purchasing one more unit of a product will lessen with each additional unit purchased.
Marginal Utility
The additional satisfaction or utility that a consumer derives from consuming one more unit of a good or service.
Total Utility
The total satisfaction or benefit a consumer receives from consuming a specific quantity of goods or services.
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