Examlex
Describe the advantages of using a custom design template.
Total Utility
The total satisfaction received from consuming a particular quantity of goods or services.
Marginal Utility
The added satisfaction a consumer gets from having one more unit of a good or service.
Diminishing Marginal Utility
A principle in economics that posits an individual gains less satisfaction from consuming each additional unit of the same product or service.
Marginal Utility
The extra pleasure or advantage gained from using another unit of a product or service.
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