Examlex
A single product line may contain several competing brands.
Marginal Utility
The supplementary enjoyment or advantage gained by a customer from the consumption of one more unit of a good or service.
Consumer Surplus
The difference between what consumers are willing to pay for a good or service relative to its market price, indicating the economic benefit to consumers.
High Price
Refers to goods or services being sold at a rate above the average market value, often due to high demand, low supply, or premium quality.
Marginal Utility
Marginal utility represents the additional satisfaction or benefit a consumer gains from consuming one more unit of a good or service.
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