Examlex
According to the gate theory of pain,
Marginal Utilities
The supplementary pleasure or value a consumer secures by acquiring one more unit of a product or service.
Total Utility
The total satisfaction or benefit that a consumer receives from consuming a given quantity of goods or services.
Current Consumption
The amount of goods and services consumed by individuals or households in the present period.
Marginal Utility
Additional contentment or usefulness achieved through the use of one more unit of a good or service.
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