define term total utility .
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Total utility is the total satisfaction received from consuming a given total quantity of a good or service, while marginal utility is the satisfaction gained from consuming an additional quantity of a particular good or service. ... For instance, water is very useful, but doesn't have much utility for most people.
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Total utility is the total satisfaction received from consuming a given total quantity of a good or service, while marginal utility is the satisfaction gained from consuming an additional quantity of a particular good or service. ... For instance, water is very useful, but doesn't have much utility for most people.
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