Examlex
Describe how to properly set-up an ice bath.
Marginal Utility
The additional satisfaction or benefit gained from consuming one more unit of a good or service.
Consumer Surplus
The difference between what consumers are willing to pay for a good or service and what they actually pay, representing their gained benefit.
Market Price
The current price at which a commodity, security, or service can be bought or sold in a particular market.
Willingness to Pay
The maximum amount an individual is prepared to spend for a particular good or service.
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