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total utility

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Financial Dictionary

Total Utility

The full satisfaction of a consumer's wants or needs through the consumption of specific goods or services.

Investopedia Commentary

As an example, the total utility of consuming four chocolate bars in a week would be the total or sum satisfaction achieved in consuming all of those four chocolate bars. Total utility, in other words, is the sum of the marginal utility gained from each chocolate bar consumed.

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See also: Behavioral Economics, Dismal Science, Dow Jones Utility Average - DJUA, Economics, Marginal Utility, Utility

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