Examlex
What are alleles?
Marginal Utility
The additional satisfaction or utility that a consumer experiences from consuming one more unit of a good or service.
Consumer Surplus
The incongruity between the maximum amount consumers are willing and able to pay for a good or service and the actual amount they end up paying.
Total Utility
The overall satisfaction or pleasure a consumer derives from consuming a certain amount or combination of goods and services.
Marginal Utility
The supplementary enjoyment or advantage gained by consuming one more unit of a good or service.
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