Examlex
During the last 50 years, which of the following had the lowest level of real GDP per person?
Marginal Utility
The additional satisfaction or utility received by a consumer from consuming one more unit of a good or service.
Consumer Surplus
The divergence between the sum consumers are prepared and financially capable to pay for a good or service and the sum they actually disburse.
Marginal Utility
The extra pleasure or benefit received from using an additional unit of a product or service.
Consumer Surplus
The financial gap between the potential spending by consumers on a product or service versus their actual spending.
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