Examlex
Use the rule for order of operations to simplify the expression as much as possible.
Total Utility
The overall satisfaction or benefit a consumer receives from consuming a certain quantity of goods or services.
Beers
A wide variety of alcoholic beverages made from barley, hops, water, and yeast through a brewing process.
Marginal Utility
The additional satisfaction or usefulness obtained from acquiring or consuming one more unit of a product or service.
Diminishing
A principle often seen where there is a decrease in the marginal (incremental) output of a production process as the amount of a single factor of production increases while others remain constant.
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