Examlex
The Chinese often considered __________ the highest form of art.
Marginal Utility
Describes the additional satisfaction or usefulness obtained from consuming one more unit of a product or service.
Total Utility
The complete fulfillment experienced from the consumption of a specific overall amount of a product or service.
Consumer Surplus
The gap between what consumers are prepared and able to spend on a product or service and the actual sum they end up paying.
Demand Curve
A graph showing the relationship between the price of a good and the quantity of that good consumers are willing and able to purchase at various prices.
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