Examlex
What is the most popular web function?
Marginal Utility
The additional utility derived from consuming one more unit of some good or service.
Consumer Surplus
The difference between the amount consumers are willing to pay for a good or service versus what they actually pay.
Demand Curve
A graph showing the relationship between the price of a good and the quantity of the good that consumers are willing and able to purchase at various prices.
Consumer Surplus
The difference between the total amount that consumers are willing to pay for a good or service and the total amount they actually pay.
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