Andrew Bloomenthal has 20+ years of editorial experience as a financial journalist and as a financial services marketing writer. Erika Rasure is globally-recognized as a leading consumer economics ...

The Marginal Utility of a good is the increase in total utility obtained by consuming one more unit of that good, for given consumption of other goods.

Marginal utility helps set product pricing; high initial satisfaction decreases with more units. Some stores use bulk pricing when consumers value additional items less. Progressive taxes assume each ...

From a practical standpoint, the august professors were talking about the value of that last dollar, the one at the top of a potentially very high stack that you might possess. And the function for ...

Discover the concept of utility in microeconomics, exploring its origins, types, and applications to analyze consumer ...