Examlex
Which of the following refers to Internet-based platforms that allow users to create their own content and share it with others who access these sites?
Total Utility
In economics, the total satisfaction received from consuming a particular quantity of goods or services.
Consumer Surplus
The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount that they actually pay.
Marginal Utility
The increased happiness a buyer experiences by consuming an extra unit of a product or service.
Consumer Surplus
Consumer surplus is the difference between what consumers are willing to pay for a good or service and what they actually pay, measuring consumer satisfaction.
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