Examlex
Which type of psychologist is likely to be interested in studying worker satisfaction and how to motivate people at work?
Total Utility
In economics, the total satisfaction received from consuming a particular quantity of goods or services.
Consumer Surplus
The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount that they actually pay.
Marginal Utility
The increased happiness a buyer experiences by consuming an extra unit of a product or service.
Consumer Surplus
Consumer surplus is the difference between what consumers are willing to pay for a good or service and what they actually pay, measuring consumer satisfaction.
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