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Marginal utility   /mˈɑrdʒənəl jutˈɪləti/   Listen
Marginal utility

noun
1.
(economics) the amount that utility increases with an increase of one unit of an economic good or service.





WordNet 3.0 © 2010 Princeton University


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"Marginal utility" Quotes from Famous Books



... housewife purchased, the fifth pound when the price was 8 cents, or the sixth pound when the price was 7 cents, we call the "marginal" pound of sugar. And the increment of utility which she derives from buying this marginal pound we call the "marginal utility" of sugar to her. We are thus able to state the fact that the more a person has of anything the less urgently does he require a little more of it, ...
— Supply and Demand • Hubert D. Henderson


Words linked to "Marginal utility" :   economic science, utility, political economy, economics


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