Examlex
The three elements required for a contract to be legally binding are: offer, acceptance, and written documentation.
Utility
The total satisfaction received from consuming a good or service.
Total Utility
The total satisfaction received from consuming a certain quantity of goods or services.
Total Utility
The total satisfaction or benefit received by consuming a given total quantity of a good or service.
Marginal Utility
Marginal utility is the additional satisfaction a consumer gains from consuming one more unit of a good or service.
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