Examlex
Walton and Rockoff suggest that complementary to the economists' Phillips Curve there is one that is ___________ .
Total Utility
The complete gratification gained from the use of a certain quantity of goods or services.
Marginal Utility
The extra pleasure or benefit gained by a consumer from consuming an additional unit of a product or service.
Marginal Utility
The additional satisfaction or utility gained from consuming an extra unit of a good or service.
Water-Diamond Paradox
A concept in economics that questions why diamonds are more expensive than water despite water being essential for survival and diamonds not.
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