Examlex
When a salesperson approaches you to sell a cemetery plot,this is considered what type of product?
Marginal Utility
The incremental pleasure or benefit a person achieves by consuming an additional unit of a good or service.
Total Utility
The total satisfaction or benefit a consumer derives from consuming a particular quantity of goods or services.
Utility Schedule
A table showing the different levels of satisfaction or utility that a consumer derives from consuming different amounts of a good or service.
Worth
The value or importance of something, often measured in terms of money or utility.
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