Examlex
Which of the following will be affected if consumers take money out of checking accounts to pay their credit cards?
Diminishing Marginal Utility
The principle that as an individual consumes more of a good, the utility (satisfaction or benefit) gained from each additional unit decreases.
Total Utility
The overall satisfaction or value a consumer receives from consuming a particular quantity of a good or service.
Marginal Utility
The extra pleasure or benefit obtained from consuming an extra unit of a product or service.
Total Utility
The complete gratification gained from the use of a certain quantity of goods or services.
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