Examlex
Distinguish between American and European options.
Indifference Curve
A graph showing different combinations of two goods among which a consumer is indifferent, representing equal levels of satisfaction.
Total Utility
The total satisfaction or happiness derived from consuming a particular quantity of goods or services.
Indifference Curve
A graph representing combinations of two goods or services among which a consumer is indifferent, showing preferences.
Total Utility
The complete satisfaction or pleasure a consumer derives from consuming a certain quantity of goods or services.
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