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A company produces two products (A and B) using three resources (I, II, and III). Each product A requires 1 unit of resource I and 3 units of resource II and has a profit of $1. Each product B requires 2 units of resource I, 3 units of resource II, and 4 units of resource III and has a profit of $3. Resource I is constrained to 40 units maximum per day; resource II, 90 units; and resource III, 60 units.
What are the corner points of the feasible solution space?
Marginal Utility
The extra pleasure or benefit gained from the consumption of an additional unit of a product or service.
Total Utility
The overall satisfaction or benefit received by consuming a particular quantity of goods or services.
Marginal Utility
The change in satisfaction or utility gained by consuming an additional unit of a good or service.
Total Utility
The overall contentment derived from the consumption of a specific number of goods or services.
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