Consumer surplus is what one consumer is willing to pay for a commodity over what another consumer is willing to pay for the same commodity.
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Q3: Total utility increases if one more unit
Q7: Marginal utility is measured by the maximum
Q12: Total utility always decreases when additional amounts
Q19: The law of diminishing marginal utility holds
Q26: Quantity demanded is not only affected by
Q31: Scarcity raises both price and marginal utility
Q33: All decisions involve opportunity cost.
Q34: Since price tends to equal total utility,
Q35: The law of diminishing marginal utility guarantees
Q41: The law of demand ensures that a
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