Please Define the Following Key Terms

question 82

Essay

Please define the following key terms. Show Who? What? Where? When? Why Important?
-Estates General

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Definitions:

Total Utility

The total satisfaction received from consuming a given total quantity of a good or service.

Marginal Utility

The change in satisfaction or benefit derived from consuming an additional unit of a good or service.

Total Utility

The total satisfaction received from consuming a particular quantity of a good or service.

Diminishing Marginal Utility

The decrease in satisfaction or usefulness obtained from each additional unit of consumption.