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When Using the Terms "Total Utility" or "Marginal Utility" We

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When using the terms "total utility" or "marginal utility" we assume: ​


Definitions:

Depreciation Expense

The allocated cost of an asset over its useful life as an expense in accounting.

Accumulated Depreciation

The total amount of a tangible asset's cost that has been depreciated over the time it has been in use.

Productive Assets

Assets that contribute directly to the revenue-generating activities of a business.

Revaluation

An adjustment to the carrying value of an asset or a currency to reflect its current fair market value.

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