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During the winter of 1999, minimum temperatures did not get much below freezing in an Oregon pond, and the following summer, large mosquito populations were observed. In the winter of 2000, frost came early and most ponds were frozen for 3 months. The following summer, very small mosquito populations were observed. This is an example of
Consumer Surplus
The financial gap between the potential spending by consumers on a product or service versus their actual spending.
Marginal Utility
The added enjoyment or advantage gained by using one more unit of a good or service.
Marginal Utility
The additional satisfaction or benefit received by consuming one more unit of a good or service.
Total Utility
The overall pleasure gained through consuming a certain volume of goods or services.
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