economics: section 4.2

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4 Terms

1
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diminishing marginal utility

as the supply of a good increases, the satisfaction gained from using that good decreases; the value in use will not stay the same

2
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not

fill in the blank

with diminishing marginal utility, the value in use will ____ stay the same

3
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marginal utility

the amount of satisfaction gained from using one unit of a good

4
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total utility

the amount of satisfaction gained from using all units of a good