What is total utility and Marginal Utility?
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In economics, utility refers to the amount of satisfaction that a consumer gains from a particular good or service. Total utility refers to the complete amount of satisfaction gained. Marginal utility refers to the satisfaction gained from an extra unit consumed.
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In economics, utility refers to the amount of satisfaction that a consumer gains from a particular good or service. Total utility refers to the complete amount of satisfaction gained. Marginal utility refers to the satisfaction gained from an extra unit consumed.
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