Examlex
Suppose you have a collection of gold coins from the 19th century.Comment on their suitability to provide for you each of the three functions of money.
Total Utility
The total satisfaction or benefit received by consuming a given total quantity of a good or service.
Market Equilibrium
A market state where the supply of goods matches demand, with no incentive for price to change.
Total Utility
The overall satisfaction or pleasure a person derives from consuming a certain amount of goods or services.
Marginal Utility
The additional satisfaction or utility received by consuming one more unit of a good or service.
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