Examlex
Use the following to answer questions:
Figure: PPF Nickel & Textiles
-(Figure: PPF Nickel & Textiles) Refer to the figure. What is the maximum amount of nickel China can produce?
Satisfaction
The feeling of fulfillment or contentment one derives from meeting a need or desire.
Marginal Utility
The added utility or pleasure derived by a consumer from consuming another unit of a good or service.
Additional Satisfaction
The joy or utility gained from consuming one more unit of a good or service.
Diminishing Rate
A principle stating that as one factor of production increases, while others stay constant, the resulting increase in output will eventually decrease.
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