Examlex
UML stands for Uniform Markup Language.
Total Utility
The complete satisfaction or benefit a consumer receives from consuming a certain amount of goods or services.
Diminishing Marginal Utility
A common economic concept stating that as a person consumes more of a product, the satisfaction (utility) gained from each additional unit decreases.
Total Utility
It is the total satisfaction or benefit that a consumer derives from consuming a certain quantity of goods or services.
Additional Units
Refers to extra quantities or increments of a product or service that are made available or consumed.
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