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VERTICAL AXIS: In a graph, this is one of two lines that intersect at a right angle. This is the 'Y-axis' that runs up and down.
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MARGINAL UTILITY The additional utility obtained from the consumption or use of an additional unit of a good. It is specified as the change in total utility divided by the change in quantity. Marginal utility indicates what each additional unit of a good is worth to a consumer and provides a theoretical basis for understanding market demand and the law of demand. Marginal utility generally declines with increased consumption of a good, a reflection of the law of diminishing marginal utility.
Complete Entry | Visit the WEB*pedia |
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Lombard Street is London's equivalent of New York's Wall Street.
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"Success is the child of audacity. " -- Benjamin Disraeli, British statesman
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ATS
Automatic Transfer Service
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