Examlex
How do companies decide what allocation bases to use to allocate indirect costs to departments?
Utility
Utility refers to the total satisfaction received from consuming a good or service.
Diminishing Utility
The principle that as consumption of a good or service increases, the marginal utility derived from each additional unit decreases.
Marginal Utility
The additional satisfaction or benefit obtained from consuming one more unit of a good or service.
Total Utility
The complete satisfaction obtained from consuming a particular quantity of goods or services.
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