Examlex
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Total Utility
The total satisfaction received from consuming a certain quantity of goods or services.
Marginal Utility
is the additional satisfaction or utility that a consumer receives from consuming one more unit of a good or service.
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.
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