Marginal utility is the additional utility derived from the consumption of one more unit of a product.
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Q112: Q113: If the MU per dollar spent on Q114: Consumer surplus is the additional amount that Q115: Assume the utility Janet obtains from consuming Q116: Explain why a rational consumer does not Q118: The law of diminishing marginal utility suggests Q119: What does marginal utility mean,and what is Q120: "If marginal utility is decreasing,then total utility Q121: Table 5.2 shows Rachel's total utility from Q122: "Total utility declines when marginal utility declines."
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