Examlex
Classify the counselor statements as either vague or concrete. As I hear you, you sound very excited. Now I want you to just calm down.
Total Utility
The total satisfaction or benefit received by consuming a given total quantity of a good or service.
Market Equilibrium
A market state where the supply of goods matches demand, with no incentive for price to change.
Total Utility
The overall satisfaction or pleasure a person derives from consuming a certain amount of goods or services.
Marginal Utility
The additional satisfaction or utility received by consuming one more unit of a good or service.
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