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Consumer Surplus
The difference between the maximum amount a consumer is willing to pay for a good or service and the actual amount they do pay.
Marginal Utility
The additional satisfaction or utility that a consumer receives from having one more unit of a good or service.
Marginal Utility
The additional satisfaction or utility a consumer gains 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 versus what they actually pay.
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