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The Graphs of the Equations and Are the Same

question 68

True/False

The graphs of the equations The graphs of the equations   and   are the same line. and The graphs of the equations   and   are the same line. are the same line.


Definitions:

Marginal-Utility-To-Price Ratio

The comparison of the additional satisfaction obtained from consuming one more unit of a good to its cost.

Marginal Utility

The incremental pleasure or value received from consuming one more unit of a good or service.

Marginal Utility Schedules

Tables or graphs that show the relationship between the quantity of a good consumed and the utility (satisfaction) that is gained from each additional unit.

Total Utility

The complete satisfaction or advantage gained from consuming a specified overall amount of a product or service.

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