Examlex
In a(n)__________ shop an employee must first be a member of the union,whereas in a __________ shop the employee is required to join the union once hired.
Total Utility
The total satisfaction received from consuming a certain amount of goods or services.
Marginal Utility
The change in satisfaction or benefit derived by consuming an additional unit of a good or service.
Utility
In the field of economics, the complete enjoyment or benefit derived from the consumption of a product or service.
Consumer Surplus
The discrepancy between what consumers are prepared and capable of paying for a product or service and the actual amount they end up paying.
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