Laws Make Society More Confusing and Chaotic, but Are Necessary

question 74

True/False

Laws make society more confusing and chaotic, but are necessary for government.

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Definitions:

Marginal Utility

The additional satisfaction or utility that a person receives from consuming one more unit of a good or service.

Total Utility

The entire pleasure derived from using a certain aggregate quantity of a good or service.

Consumer Surplus

The difference between the maximum price consumers are willing to pay for a good or service and the actual price they do pay.

Marginal Utility

The additional satisfaction or utility gained from consuming one more unit of a good or service.