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A group of young men and women meet regularly via the internet to play an online game together.Do they qualify as a group?
Diminishing Marginal Utility
Declining utility, or satisfaction, derived from each additional unit consumed of a particular good or service.
Consumer Surplus
The variance between the total price consumers are inclined and financially capable of paying for a good or service and the amount they actually dispense.
Marginal Utility
The extra utility or satisfaction derived from using or consuming one additional unit of a good or service beyond what was previously consumed.
Total Utility
The total satisfaction received from consuming a particular amount of goods or services.
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